Chapter 15 - Contract of Insurance

29.1501 Limitation.

An insurer authorized to do business in Ameri…

29.1502 Fire insurance.

Fire insurance includes insurance upon buildi…

29.1503 Marine insurance.

Marine insurance includes insurance upon ocea…

29.1504 Life insurance.

Life insurance includes insurance on all form…

29.1505 Accident, sickness, health, and liability insurance.

(a) Accident insurance and sickness or health…

29.1506 Fidelity and surety insurance.

Fidelity and surety insurance includes all gu…

29.1507 Motor vehicle insurance.

Motor vehicle insurance includes all insuranc…

29.1508 Title insurance.

Title insurance includes insurance or guarant…

29.1509 Workmen’s compensation insurance.

Workmen’s compensation insurance includes ins…

29.1510 Annuity.

“Annuity” or “annuity policy” means any agree…

29.1511 Mortgage insurance.

“Mortgage insurance” means insurance against…

29.1512 Property insurance.

“Property insurance” means insurance on real…

29.1513 Miscellaneous.

“Miscellaneous insurance” includes insurance…

29.1520 Capacity to insure.

Any person capable of making a contract may b…

29.1521 Capacity to be insured.

Except as provided in 29.1520 through 29.1527…

29.1522 Insurable interest-Generally.

(a) Every interest in property, or any relati…

29.1523 Insurable interest-Measure of.

Except in the case of property held by the in…

29.1524 Insurable interest-Carrier or depository.

A carrier or depository of any kind has an in…

29.1525 Insurable interest-Type of- Existence.

An interest in property insured must exist wh…

29.1526 Change of interest.

(a) Except in the cases herein specified, and…

29.1527 Transfer of subject matter insured.

The mere transfer of subject matter insured d…

29.1530 Filing and approval.

(a) Except where otherwise provided by law, n…

29.1531 Grounds for disapproval of policy forms.

The Commissioner shall disapprove any form re…

29.1532 Commissioner’s withdrawal of approval.

The Commissioner may, at any time after a hea…

29.1533 Information required.

(a) The written instrument in which a contrac…

29.1534 Signature.

(a) All policies issued on risks in American…

29.1535 Coverage.

When the name of the person intended to be in…

29.1536 Subsequent owner of interest.

A policy may be so framed that it will insure…

29.1537 Liability policy direct action.

On any policy of liability insurance, the inj…

29.1538 Insolvency or bankruptcy.

No policy of liability insurance may be issue…

29.1539 Open or valued policy.

A policy is either an open policy, which is o…

29.1540 Approval of form.

(a) An insurer may not use a policy form in e…

29.1541 Assignment of policies.

A policy may be assignable or not assignable,…

29.1542 Policy constitutes entire contract.

(a) Every contract of insurance must be const…

29.1543 Charter and bylaw provisions.

No policy may contain any provision purportin…

29.1544 Payment discharges insurer.

Whenever the proceeds of, or payments under,…

29.1545 Regulation of sales material.

The Commissioner, if he considers it necessar…

29.1550 Accrual of premium.

The insurer is entitled to payment of the pre…

29.1551 Right to return of premium.

Unless the insurance contract otherwise provi…

29.1552 Acknowledgment of receipt of premium.

An acknowledgment in a policy of receipt of t…

29.1560 Approval.

(a) All rates, rate schedules, rate plans, an…

29.1561 Standards.

An insurer, in making rates, and the Commissi…

29.1562 Rating bureaus.

Insurers are authorized to become members or…

29.1563 Disapproval of filings by Commissioner.

(a) If, within the waiting period, the Commis…

29.1564 Motor vehicle insurance rates.

The following chart indicates the maximum all…

29.1565 Liability rates for buses and taxis.

(a) Annual maximum motor vehicle liability ra…

29.1566 Violation-Penalty.

Any person violating 29.1560 through 29.1564…

29.1570 Perils not insured against-Rescue efforts.

An insurer is liable: (1) when the thing insu…

29.1571 Liability of insurer—Negligence of insured.

An insurer is not liable for a loss caused by…

29.1572 Notice of loss.

Failure to give notice of loss covered by any…

29.1573 Preliminary proof of loss.

When preliminary proof of loss is required by…

29.1574 Waiver of defects in notice or preliminary proof.

All defects in a notice of loss, or in prelim…

29.1575 Waiver of delay.

Delay in the presentation to an insurer of no…

29.1576 Proof by third person-Sufficient compliance.

If a policy requires, by way of preliminary p…

29.1577 Failure to pay loss, recovery of amount due, and damages.

In all cases where loss occurs and the insure…

29.1578 Total loss by fire or miscellaneous insurance-Recovery of full amount.

A fire or miscellaneous insurance policy, in…

29.1580 Definition.

Double insurance exists when the same person…

29.1581 Contribution by insurers.

In case of double insurance, the several insu…

29.1590 Definition.

A contract of reinsurance is one by which an…

29.1591 Authorization.

No admitted insurer may reinsure with any oth…