§ 27-4-4-1 — Purpose; legislative declaration

(a) The purpose of this chapter is to subject
certain insurers to the jurisdiction of courts of this state in suits by or
on behalf of the insureds or beneficiaries under insurance contracts.
(b) The general assembly declares that it is a subject of concern that
many residents of this state hold policies of insurance issued or
delivered in this state by insurers while not authorized to do business
in this state, thus presenting to such residents the often insuperable
obstacle of resorting to distant forums for the purpose of asserting legal
rights under such policies. In furtherance of such state interest, the
general assembly provides in this chapter a method of substituted
service of process upon such insurers and declares that in so doing it
exercises its power to protect its residents and to define, for the purpose
of this chapter, what constitutes doing business in this state, and also
exercises powers and privileges available to the state by virtue of 15
U.S.C. 1011 et seq., which declares that the business of insurance and
every person engaged in the business of insurance is subject to the laws
of the several states.
Formerly: Acts 1955, c.203, s.1. As amended by P.L.252-1985,
SEC.159; P.L.136-2018, SEC.171.