20-1101. Scope of article This article shall not apply to: 1. Reinsurance. 2. Policies or contracts not issued for delivery in this state nor delivered in this state, except as provided in section 20-1110, subsection G (approval of forms for delivery in jurisdictions where local approval not provided for) and in section 20-1133, subsection A […]
20-1102. " Policy" defined " Policy" means contract of or agreement for or effecting insurance, or the certificate thereof, by whatever name called, and includes all clauses, riders, endorsements and papers attached thereto and a part thereof.
20-1103. " Premium" defined " Premium" is the consideration for insurance, by whatever name called.
20-1104. Insurable interest with respect to personal insurance; definition A. Any individual of competent legal capacity may procure or effect an insurance contract on his own life or body for the benefit of any person. But no person shall procure or cause to be procured any insurance contract on the life or body of another […]
20-1105. Insurable interest with respect to property insurance A. No insurance contract on property or of any interest therein or arising therefrom shall be enforceable as to the insurance except for the benefit of persons having an insurable interest in the things insured. B. " Insurable interest" as used in this section means any actual, […]
20-1106. Capacity to contract for insurance; minors A. Any person of competent legal capacity may contract for insurance. B. A minor who is at least fifteen years of age as of the minor’s nearest birthday may contract, notwithstanding the minor’s minority, for life or disability insurance on the minor’s own life or body, for the […]
20-1107. Application for insurance No life or disability insurance contract upon an individual, except a contract of group life insurance or of group or blanket disability insurance, shall be made or effectuated unless at the time of making the contract the individual insured, being of competent legal capacity to contract, applies therefor or consents thereto, […]
20-1108. Admissibility of application as evidence A. An application for the issuance of any life or disability insurance policy or contract is not admissible in evidence in any action relative to such policy or contract, unless a true copy of the application was attached to or otherwise made a part of the policy when issued […]
20-1109. Statements as representation; effect of misrepresentation upon policy All statements and descriptions in any application for an insurance policy or in negotiations therefor, by or in behalf of the insured, shall be deemed to be representations and not warranties. Misrepresentations, omissions, concealment of facts and incorrect statements shall not prevent a recovery under the […]
20-1110. Approval of forms; definition A. Any life or disability insurance policy form, life or disability insurance application form where written application is required and is to be made a part of the policy and printed rider or endorsement form shall not be delivered or issued for delivery in this state by a life or […]
20-1110.01. Rules and regulations; form and readability of policies A. The director shall adopt and promulgate rules and regulations governing the form and readability of various types of insurance policies including title insurance policies. Such rules and regulations may provide that the readability requirements established pursuant to this subsection may be met by use of […]
20-1111. Grounds for disapproval of forms A. The director shall disapprove any form of policy, application, rider or endorsement or withdraw any previous approval thereof only: 1. If it is in any respect in violation of or does not comply with this title. 2. If it contains or incorporates by reference any inconsistent, ambiguous or […]
20-1112. Standard provisions A. Insurance contracts shall contain such standard provisions as are required by the applicable provisions of this title pertaining to contracts of particular kinds of insurance. The director may waive the required use of a particular standard provision in a particular insurance policy form if he finds such provision unnecessary for the […]
20-1113. Contents of policy 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 insurer’s name. 3. The subject of the insurance. 4. The risks insured against. 5. The time when the insurance […]
20-1114. Incorporation of charter or bylaw into policy No policy shall contain any provision purporting to make any portion of the charter, bylaws or other constituent document of the insurer a part of the contract unless such portion is set forth in full in the policy. Any policy provision in violation of this section shall […]
20-1115. Void policy restrictions A. No policy delivered or issued for delivery in this state and covering a subject of insurance resident, located or to be performed in this state, shall contain any condition, stipulation or agreement: 1. Requiring the policy to be construed according to the laws of any other state or country, except […]
20-1116. Execution of policies 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 duly authorized by the insurer. B. A facsimile signature of any such executing individual may be used in lieu of an original signature. C. No insurance contract […]
20-1117. Underwriters’ and combination policies A. Two or more authorized insurers may jointly issue, and shall be jointly and severally liable on, an underwriters’ policy bearing their names. Any one insurer may issue policies in the name of an underwriter’s department and such policy shall plainly show the true name of the insurer. B. Two […]
20-1118. Validity of noncomplying forms Any insurance policy, rider or endorsement issued after January 1, 1955 and otherwise valid which contains any condition or provision not in compliance with the requirements of this title shall not be thereby rendered invalid but shall be construed and applied in accordance with such conditions and provisions as would […]
20-1119. Construction of policies; translation; disclaimer 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 attached to and made a part of the policy. B. An insurance policy that is […]
