§ 27-6-1-1

The purpose of this chapter is to: (1) Promote the public welfare by regulating lender-placed insurance on real property. (2) Create a legal framework within which lender-placed insurance on real property may be written in this state. (3) Help maintain the separation between lenders/servicers and insurers/insurance producers. (4) Minimize the possibilities of unfair competitive practices in the sale, placement, solicitation, and negotiation of lender-placed insurance. History of Section.P.L. 2022, ch. 404, § 7, effective June 30, 2022; P.L. 2022, ch. 405, § 7, effective June 30, 2022.