Indiana § 27-5.1-3-2 Powers; kinds of insurance coverage

Indiana Statutes

§ 27-5.1-3-2 — Powers; kinds of insurance coverage

Indiana § 27-5.1-3-2

Title 27INSURANCE

Art. 5.1FARM MUTUAL INSURANCE COMPANIES

Ch. 3Standard Farm Mutual Insurance Companies

This text of Indiana § 27-5.1-3-2 (Powers; kinds of insurance coverage) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 27-5.1-3-2 (2026).

Text

A standard company that is issued a certificate of authority under this article may:

(1)perform the business of insurance on:

(A)an assessable;

(B)a mutual; and

(C)a nonprofit; basis;

(2)insure the property of policyholders of the standard company against loss or damage that is caused by:

(A)fire;

(B)windstorm;

(C)causes specified under an extended coverage provision; and

(D)other perils that are not specifically excluded in the policy form; and

(3)insure the property of policyholders of the standard company against:

(A)loss of use;

(B)loss of occupancy;

(C)loss of rents; and

(D)additional expenses; that result from direct loss or damage to covered property.

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A standard company that is issued a certificate
of authority under this article may:
(1) perform the business of insurance on:
(A) an assessable;
(B) a mutual; and
(C) a nonprofit;
basis;
(2) insure the property of policyholders of the standard company
against loss or damage that is caused by:
(A) fire;
(B) windstorm;
(C) causes specified under an extended coverage provision; and
(D) other perils that are not specifically excluded in the policy
form; and
(3) insure the property of policyholders of the standard company
against:
(A) loss of use;
(B) loss of occupancy;
(C) loss of rents; and
(D) additional expenses;
that result from direct loss or damage to covered property.