Indiana § 27-7-10-27 - Purchasing groups; purchase of insurance from risk retention groups; limitations; notice to members; deductibles; aggregate limits
Full text of Indiana Indiana Code § 27-7-10-27 — Purchasing groups; purchase of insurance from risk retention groups; limitations; notice to members; deductibles; aggregate limits, with citation guidance and answers to common questions.
§ 27-7-10-27. Purchasing groups; purchase of insurance from risk retention groups; limitations; notice to members; deductibles; aggregate limits
Sec. 27. (a) A purchasing group may not purchase insurance from a risk retention group that is not chartered in a state or from an insurer not admitted in the state in which the purchasing group is located, unless the purchase is effected through a licensed insurance producer or broker acting under the surplus lines laws and regulations of that state.
(b) A purchasing group that obtains liability insurance from an insurer that is not admitted in Indiana or from a risk retention group shall inform each of the members of the group who have a risk resident or located in Indiana that the risk is not protected by an insurance insolvency guaranty fund in Indiana and that the risk retention group or insurer may not be subject to all insurance laws and rules of Indiana.
(c) No purchasing group may purchase insurance providing for a deductible or self-insured retention applicable to the group as a whole. However, coverage may provide for a deductible or self-insured retention applicable to individual members of the purchasing group.
(d) Purchases of insurance by purchasing groups are subject to the same standards regarding aggregate limits that are applicable to all purchases of group insurance.
As added by P.L.162-1988, SEC.2. Amended by P.L.178-2003, SEC.50.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 27-7-10-27
What does Indiana Code § 27-7-10-27 cover?
Section 27-7-10-27 ("Purchasing groups; purchase of insurance from risk retention groups; limitations; notice to members; deductibles; aggregate limits") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 27-7-10-27?
A common citation format is "Indiana Code § 27-7-10-27" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 27-7-10-27 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.