Indiana Code 27-6-9-14. Bond; errors and omissions policy
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Sec. 14. The commissioner may require a RM subject to section 13 of this chapter to:
(2) maintain an errors and omissions policy in an amount acceptable to the commissioner.
(1) file a bond from an insurer in an amount acceptable to the commissioner for the protection of the reinsurer; and
Terms Used In Indiana Code 27-6-9-14
- commissioner: refers to the insurance commissioner appointed under IC 27-1-1-2. See Indiana Code 27-6-9-2
- insurer: means any person, firm, association or corporation duly licensed in Indiana pursuant to the applicable provisions of the insurance law as an insurer. See Indiana Code 27-6-9-4
- reinsurer: means any person, firm, association, or corporation duly licensed in Indiana pursuant to the applicable provisions of the insurance law as an insurer with the authority to assume reinsurance. See Indiana Code 27-6-9-9
As added by P.L.26-1991, SEC.26.