First Regular Session 114th General Assembly (2005)


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    SENATE ENROLLED ACT No. 125



     AN ACT to amend the Indiana Code concerning insurance.

Be it enacted by the General Assembly of the State of Indiana:

SOURCE: IC 27-7-5-1.5; (05)SE0125.1.1. -->     SECTION 1. IC 27-7-5-1.5 IS ADDED TO THE INDIANA CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2005]: Sec. 1.5. (a) As used in this section, "commercial vehicle policy" means an insurance policy that provides coverage for at least one (1) of the following:
        (1) A motor vehicle that is rated or insured as a business or commercial vehicle.
        (2) A motor vehicle that is licensed by the state as a commercial vehicle.
        (3) A commercial motor vehicle business, including an:
            (A) individual who; or
            (B) entity that;
        is in the business or occupation of selling, repairing, servicing, storing, or parking motor vehicles, including a business that is a commercial garage operation, an automobile sales entity, a motor vehicle repair entity, a motor vehicle service station, or a public parking operation.
        (4) A motor vehicle that is used as a public or private livery or a rental conveyance.
        (5) A motor vehicle that is owned or used by a named insured that is not a natural person.
    (b) This chapter does not require an insurer to make available uninsured motorist or underinsured motorist coverage described in section 2 of this chapter in connection with the issuance of a:
        (1) commercial liability policy, including a commercial vehicle policy;
        (2) commercial umbrella or excess liability policy;
        (3) commercial liability policy that provides hired or nonowned motor vehicle liability coverage; or
        (4) commercial liability policy that provides limited or incidental coverage for liability arising out of the ownership, maintenance, operation, or use of a motor vehicle, including a motor vehicle that is:
            (A) not subject to motor vehicle registration; and
            (B) not intended or designed to be used on a public roadway.

SOURCE: ; (05)SE0125.1.2. -->     SECTION 2. [EFFECTIVE JULY 1, 2005] (a) The department of insurance shall, not later than December 31, 2007, assess and report to the legislative council in an electronic format under IC 5-14-6 the:
        (1) market availability of;
        (2) competition for; and
        (3) sales since June 30, 2005, of;
commercial uninsured motorist and underinsured motorist coverage in Indiana on July 1, 2007.
    (b) This SECTION expires January 1, 2008.


SEA 125 _ Concur

Figure

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