Indiana Code 27-6-8-3. Scope
(1) life, annuity, health, or disability insurance;
Terms Used In Indiana Code 27-6-8-3
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Contract: A legal written agreement that becomes binding when signed.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- person: means an individual, an aggregation of individuals, a corporation, a partnership, or another entity. See Indiana Code 27-6-8-4
(3) fidelity or surety bonds, or any other bonding obligations;
(4) credit insurance, vendors’ single interest insurance, or collateral protection insurance or similar insurance with the primary purpose of protecting the interests of a creditor arising out of a creditor-debtor transaction;
(5) warranty or service contract insurance;
(6) title insurance;
(7) ocean marine insurance;
(8) a transaction between a person or an affiliate of a person and an insurer or an affiliate of an insurer that involves the transfer of investment or credit risk without a transfer of insurance risk;
(9) insurance provided by or guaranteed by a government entity; and
(10) insurance written on a retroactive basis to cover known losses for which a claim has already been made and the claim is known to the insurer at the time the insurance is bound.
Formerly: Acts 1971, P.L.390, SEC.1. As amended by P.L.163-1988, SEC.1; P.L.31-1988, SEC.20.