Indiana § 27-7-12-2 - Definitions
Full text of Indiana Indiana Code § 27-7-12-2 — Definitions, with citation guidance and answers to common questions.
§ 27-7-12-2. Definitions
Sec. 2. (a) As used in this chapter, "aerial image" means an image of a named insured's property captured from an airborne platform.
(b) As used in this chapter, "cancellation" refers to a termination of property insurance coverage that occurs during the policy term.
(c) As used in this chapter, "nonpayment of premium" means the failure of the named insured to discharge any obligation in connection with the payment of premiums on policies of insurance subject to this chapter, regardless of whether the payments are directly payable to the insurer or its agent or indirectly payable under a premium finance plan or extension of credit. The term includes the failure to pay dues or fees where payment of the dues or fees is a prerequisite to obtaining or continuing property insurance coverage.
(d) As used in this chapter, "nonrenewal" or "nonrenewed" refers to a termination of property insurance coverage that occurs at the end of the policy term.
(e) As used in this chapter, "renewal" or "to renew" refers to:
(1) the issuance and delivery by an insurer at the end of a policy period of a policy superseding a policy previously issued and delivered by the same insurer; or
(2) the issuance and delivery of a certificate or notice extending the term of an existing policy beyond its policy period or term.
(f) As used in this chapter, "termination" means a cancellation or nonrenewal. The term does not include:
(1) the requirement of a reasonable deductible;
(2) reasonable changes in the amount of insurance; or
(3) reasonable reductions in policy limits or coverage;
if the requirements or changes are directly related to the hazard involved and are made on the renewal date for the policy. The term does not include a transfer of a policy to another insurer.
As added by P.L.203-2001, SEC.10. Amended by P.L.86-2026, SEC.22.
Frequently Asked Questions About Indiana § 27-7-12-2
What does Indiana Code § 27-7-12-2 cover?
Section 27-7-12-2 ("Definitions") 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 § 27-7-12-2?
A common citation format is "Indiana Code § 27-7-12-2" (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 § 27-7-12-2 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.