Indiana Code 27-7-10-10. “Purchasing group” defined
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Sec. 10. As used in this chapter, “purchasing group” means any group that:
(2) purchases liability insurance:
(1) has as one of its purposes the purchase of liability insurance on a group basis;
Terms Used In Indiana Code 27-7-10-10
- insurance: means primary insurance, excess insurance, reinsurance, surplus lines insurance, and any other arrangement for shifting and distributing risk that is determined to be insurance under the laws of Indiana. See Indiana Code 27-7-10-5
- liability: means legal liability for damages (including costs of defense, legal costs and fees, and other claims expenses) because of injuries to other persons, damage to their property, or other damage or loss to other persons, resulting from or arising out of:
Indiana Code 27-7-10-6
- state: means any state of the United States or the District of Columbia. See Indiana Code 27-7-10-12
(A) only for its group members; and
(B) only to cover the liability with respect to which the businesses or activities of the group members are similar or related;
(3) is composed of members whose businesses or activities are similar or related with respect to the liability to which the members are exposed by virtue of any related, similar, or common business, trade, product, services, premises, or operations; and
(4) is domiciled in any state.
As added by P.L.162-1988, SEC.2.