Indiana § 27-7-10-10 "Purchasing group" defined

Indiana Statutes

§ 27-7-10-10 — "Purchasing group" defined

Indiana·Title 27 INSURANCE·Art. 7 SPECIAL TYPES OF INSURANCE·Ch. 10 Risk Retention Groups

As used in this chapter, "purchasing group" means any group that:

(1)has as one of its purposes the purchase of liability insurance on a group basis;

(2)purchases liability insurance:

(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.

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As used in this chapter, "purchasing group"
means any group that:
(1) has as one of its purposes the purchase of liability insurance
on a group basis;
(2) purchases liability insurance:
(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.

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