As used in this chapter: (1) “Excepted benefits” means benefits under one (1) or more, or any combination thereof, of the following: (A) Benefits not subject to requirements, including without limitation: (i) Coverage only for accident or disability income insurance, or any combination thereof; (ii) Coverage issued as a supplement to liability insurance; (iii) Liability […]
Sections 23-79-101, 23-79-103 — 23-79-107, 23-79-109 — 23-79-128, 23-79-131 — 23-79-134, 23-79-162, and 23-79-202 — 23-79-210 do not apply to: (1) Reinsurance; (2) (A) Policies or contracts not issued for delivery in this state nor delivered in this state, except: (i) On subjects of insurance other than life or accident and health insurance, located or […]
(a) (1) Any individual of competent legal capacity may procure or effect an insurance contract upon his or her own life or body for the benefit of any person. (2) However, no person shall procure or cause to be procured any insurance contract upon the life or body of another individual unless the benefits under […]
(a) No contract of insurance of property or of any interest in property or arising from property shall be enforceable as to the insurance except for the benefit of persons having an insurable interest in the things insured at the time of the effectuation of the insurance and at the time of the loss. (b) […]
No life or accident and health insurance contract upon an individual, except a contract of group life insurance or of group or blanket accident and health insurance, shall be made or effectuated unless at the time of the making of the contract the individual insured, being of competent legal capacity to contract, applies therefor or […]
(a) No application for the issuance of any life or accident and health insurance policy or annuity contract shall be admissible in evidence in any action relative to the policy or contract unless a true copy of those portions of the application signed by the applicant was attached to, or otherwise made a part of, […]
(a) A statement in an application or in negotiations for a life or accident and health insurance policy or annuity contract by or in behalf of the insured or annuitant are representations and not warranties. Misrepresentations, omissions, concealment of facts, and incorrect statements shall not prevent a recovery under the policy or contract unless: (1) […]
After an insurer rejects or declines to issue a life or accident and health insurance policy, the insurer shall return the premium to the applicant within a reasonable period of time.
(a) (1) (A) (i) No basic insurance policy, or annuity contract form, or application form when written application is required and is to be made a part of the policy or contract, or printed rider or endorsement form or form of renewal certificate, shall be issued, delivered, or used as to a subject of insurance […]
(a) The Insurance Commissioner shall disapprove a form filed under § 23-79-109, or withdraw a previous approval, only if the form: (1) Violates or does not comply with state law; (2) Contains or incorporates by reference, when the incorporation is otherwise permissible, an inconsistent, ambiguous, or misleading clause, or an exception and a condition that […]
(a) Insurance contracts shall contain such standard or uniform provisions as are required by the applicable provisions of this code pertaining to contracts of particular kinds of insurance. The Insurance Commissioner may waive the required use of a particular provision in a particular insurance policy form if: (1) He or she finds the provision unnecessary […]
(a) The written instrument in which a contract of insurance is set forth is the policy. (b) Every policy shall specify: (1) The names of the parties to the contract; (2) The subject of the insurance; (3) The risks insured against; (4) The time when the insurance thereunder takes effect and the period during which […]
(a) No policy shall contain any provision purporting to make any portion of the charter, bylaws, or other constituent document of the insurer, other than the subscribers’ agreement or power of attorney of a reciprocal insurer, a part of the contract unless the portion is set forth in full in the policy. (b) Any policy […]
(a) (1) Notwithstanding any provision of any individual or group policy of accident and health insurance or any provision of a policy, contract, plan, or agreement for hospital or medical service or indemnity, in cases in which the policy, contract, plan, or agreement provides for payment or reimbursement for any service provided by persons licensed […]
(a) (1) Notwithstanding any provisions of any individual or group accident and health insurance policy, or any provision of a policy, contract, plan, or agreement covering hospital or medical services, in cases in which the policy, contract, plan, or agreement provides for payment or reimbursement for any healthcare service provided by hospitals or related facilities […]
(a) Every insurance policy shall be executed in the name of and on behalf of the insurer by its officer, attorney-in-fact, employee, or representative authorized by the insurer. (b) A facsimile signature of any executing individual may be used in lieu of an original signature. (c) No insurance contract which is otherwise valid shall be […]
(a) (1) Two (2) or more authorized insurers may jointly issue and shall be jointly and severally liable on an underwriters’ policy bearing their names. (2) Any one (1) insurer may issue policies in the name of an underwriter’s department, and the policy shall plainly show the true name of the insurer. (b) With the […]
An insurance policy, rider, or endorsement issued and otherwise valid that contains any condition or provision not in compliance with state law is not rendered invalid but shall be construed and applied according to the conditions and provisions that would have applied had the policy, rider, or endorsement been in full compliance with state law.
(a) Every insurance contract shall be construed according to the entirety of its terms and conditions as set forth in the policy and as amplified, extended, or modified by any rider, endorsement, or application made a part of the policy. (b) All insurance contracts that are issued for specific terms and that may be renewed […]
(a) Binders or other contracts for temporary insurance may be made orally or in writing and shall be deemed to include all the usual terms of the policy as to which the binder was given together with such applicable endorsements as are designated in the binder, except as superseded by the clear and express terms […]
