Sec. 2. (a) An insurer, by or through its employees, affiliates, insurance producers, or third-party representatives, or an insurance producer acting on the insurance producer’s own behalf, may offer or provide, for free or at a discounted price, value-added products or services:

(1) that relate to or are provided in conjunction with a policy of insurance; and

Terms Used In Indiana Code 27-1-47-2

  • Insurance: means a contract of insurance or an agreement by which one (1) party, for a consideration, promises to pay money or its equivalent or to do an act valuable to the insured upon the destruction, loss or injury of something in which the other party has a pecuniary interest, or in consideration of a price paid, adequate to the risk, becomes security to the other against loss by certain specified risks; to grant indemnity or security against loss for a consideration. See Indiana Code 27-1-2-3
  • insurer: means a company, firm, partnership, association, order, society or system making any kind or kinds of insurance and shall include associations operating as Lloyds, reciprocal or inter-insurers, or individual underwriters. See Indiana Code 27-1-2-3
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
(2) that:

(A) are primarily intended to:

(i) educate about;

(ii) assess;

(iii) monitor;

(iv) mitigate;

(v) reduce;

(vi) control; or

(vii) prevent;

risk, severity, or frequency of loss to persons or to persons’ lives, health, or property;

(B) are primarily designed to enhance the health, financial wellness, or safety of persons or of persons’ lives, health, or property; or

(C) have a nexus to or enhance the value of the insurance benefits of the policy.

     (b) Offering or providing products or services under this section is not a violation of IC 27-1-20-30, IC 27-1-22-18, or IC 27-4-1-4(a)(8).

As added by P.L.196-2021, SEC.33. Amended by P.L.226-2023, SEC.18.

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