§ 27-7-10-31 — Purchasing groups; solicitation, negotiation, or procurement of liability insurance; license requirements

Indiana § 27-7-10-31

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 7: SPECIAL TYPES OF INSURANCE
• Ch. 10: Risk Retention Groups

Text

(a) No individual, firm, association, or
corporation may act or aid in any manner in soliciting, negotiating, or
procuring liability insurance in Indiana for a purchasing group from an
authorized insurer or a risk retention group chartered in a state unless
the individual, firm, association, or corporation is licensed as an
insurance producer under IC 27-1-15.6.
(b) No individual, firm, association, or corporation may act or aid
in any manner in soliciting, negotiating, or procuring liability insurance
coverage in Indiana for any member of a purchasing group under a
purchasing group's policy unless the individual, firm, association, or
corporation is licensed as an insurance producer under IC 27-1-15.6.
(c) No individual, firm, association, or corporation may act or aid in
any manner in soliciting, negotiating, or procuring liability insurance
from an insurer not authorized to do business in Indiana on behalf of a
purchasing group located in Indiana unless the individual, firm,
association, or corporation is licensed as a surplus lines producer under
IC 27-1-15.8.

Legislative History

As added by P.L.162-1988, SEC.2. Amended by P.L.132-2001, SEC.12; P.L.178-2003, SEC.53.