Section 24-4.5-4-103 - "Consumer credit insurance" defined In this article, "consumer credit insurance" means insurance, other than insurance on property, by which the satisfaction of debt in whole or in part is a benefit provided, but does not include:
(1) insurance issued as an isolated transaction on the part of the insurer not related to an agreement or plan for insuring debtors of the creditor; or(2) insurance indemnifying the creditor against loss due to the debtor's default.(Formerly: Acts1971 , P.L. 366, SEC.5.) As amended by P.L. 153-1986, SEC.2.