33-1-201. Definitions — insurance in general. For the purposes of this code, the following definitions apply unless the context requires otherwise: (1) ”Alien insurer” is an insurer formed under the laws of any country other than the United States or its states, districts, territories, and commonwealths. (2) ”Authorized insurer” is an insurer duly authorized by a certificate of […]
33-1-202. Definitions — entities. For the purposes of this code, the following definitions apply unless the context requires otherwise: (1) ”Commissioner” means the commissioner of insurance of the state of Montana. (2) ”Department” means the department of insurance of the state of Montana. (3) ”Person” includes an individual, insurer, company, association, organization, Lloyd’s, society, reciprocal or interinsurance exchange, partnership, […]
33-1-203 and 33-1-204 reserved.
33-1-205. Definitions of kinds of insurance not mutually exclusive. It is intended that certain insurance coverages may come within the definitions of two or more kinds of insurance as defined in this part, and the inclusion of such coverage within one definition shall not exclude it as to any other kind of insurance within the definition […]
33-1-206. Casualty insurance. (1) Casualty insurance includes: (a) vehicle insurance, which is insurance against loss of or damage to any land vehicle or aircraft or any draft or riding animal or to property while contained in or on or being loaded or unloaded in or from a land vehicle, aircraft, or animal from any hazard or cause […]
33-1-207. Disability insurance. (1) Disability insurance, including credit disability insurance, is insurance of human beings: (a) against bodily injury, disablement, or death by accident or accidental means or the medical expense or indemnity involved; or (b) against disablement or medical expense or indemnity resulting from sickness. (2) Transaction of disability insurance does not include: (a) workers’ compensation insurance; or (b) a […]
33-1-208. Life insurance. Life insurance, including credit life insurance, is insurance on human lives. The transaction of life insurance includes the granting of endowment benefits, additional benefits in event of death or dismemberment by accident or accidental means, additional benefits in event of the insured’s disability, benefits that provide reimbursement or payment for long-term home health […]
33-1-209. Marine protection and indemnity and wet marine insurance. (1) Marine and transportation insurance means insurance against loss of or damage to: (a) vessels, craft, aircraft, vehicles, goods, freights, cargoes, merchandise, effects, disbursements, profits, money, securities, choses in action, evidences of debt, valuable papers, bottomry, respondentia, and any interest therein, with respect to risks and perils, including […]
33-1-210. Property insurance. Property insurance is insurance on real or personal property of every kind and of every interest therein, whether on land, water, or in the air, against loss or damage from any and all hazard or cause, and against loss consequential upon such loss or damage, other than noncontractual legal liability for any such […]
33-1-211. Surety insurance. Surety insurance includes: (1) fidelity insurance, which is insurance guaranteeing the fidelity of persons holding positions of public or private trust; (2) insurance guaranteeing the performance of contracts, other than insurance policies, and guaranteeing and executing bonds, undertakings, and contracts of suretyship; (3) insurance indemnifying banks, bankers, brokers, or financial or moneyed corporations or associations: (a) against […]
33-1-212. Title insurance. Title insurance is insurance of owners of property or others having an interest therein or liens or encumbrances thereon against loss by encumbrance, defective titles, invalidity, or adverse claim to title. History: En. Sec. 79, Ch. 286, L. 1959; R.C.M. 1947, 40-2908.
33-1-213. Repealed. Sec. 73, Ch. 227, L. 2001. History: En. Sec. 64, Ch. 472, L. 1999.
33-1-214. Mechanical breakdown insurance. (1) Mechanical breakdown insurance means a policy, contract, or agreement issued by an authorized insurer that provides for the repair, replacement, or service for the operational or structural failure of the property because of a defect in materials or workmanship or because of normal wear and tear. (2) The term does not include […]
33-1-215. Prepaid legal insurance. (1) For the purposes of this section, prepaid legal insurance means the assumption of a contractual obligation that is to be spread, directly or indirectly, among a group of persons to provide specified legal services or reimbursement for legal expenses in consideration of a specified payment for an interval of time, regardless […]
33-1-216. Involuntary unemployment insurance. (1) Involuntary unemployment insurance means insurance providing the insured borrower with coverage for consumer credit replacement obligations for a period or periods during which the borrower is involuntarily unemployed. Involuntary unemployment insurance must at least provide benefits for the loss of employment income caused by individual or mass layoff, a general strike, […]
33-1-217. Gap amount — gap insurance. (1) As used in this section, gap amount means the difference between the amount owed by the lessee or borrower under the purchase or lease agreement in the event of total loss of the personal property prior to the expiration of the agreement by theft or physical damage and the […]
33-1-218. Credit insurances — definitions. As used in this code, the following definitions apply: (1) ”Credit disability insurance” means the same as defined in 33-21-103. (2) ”Credit life insurance” means the same as defined in 33-21-103. (3) ”Credit property insurance” means any policy, endorsement, rider, cover note, memorandum, certificate, or other instrument or evidence of insurance covering perils to […]
33-1-219. Mortgage insurances — definitions. (1) “Mortgage” or “mortgage loan” is an indebtedness of more than 10 years duration that is secured by a real estate mortgage. (2) ”Mortgage disability insurance” is disability insurance designed to pay off all or a part of a mortgage loan in the event of the insured’s disability. Mortgage disability insurance is […]
33-1-220. Rental car insurance. Rental car insurance is insurance that: (1) provides coverage for periods of less than 90 days; (2) applies only to the rental car subject to the rental agreement; and (3) is limited to the following kinds of insurance: (a) personal accident insurance for renters and other rental car occupants, for accidental death or dismemberment, and for […]
33-1-221. Nationwide inland marine definition law. Sections 33-1-221 through 33-1-229 may be cited as the “Nationwide Inland Marine Definition Act”. History: En. Sec. 1, Ch. 467, L. 1981.
