Powers; kinds of insurance coverage

Sec. 2. A standard company that is issued a certificate of authority under this article may: (1) perform the business of insurance on: (A) an assessable; (B) a mutual; and (C) a nonprofit; basis; (2) insure the property of policyholders of the standard company against loss or damage that is caused by: (A) fire; (B) windstorm; (C) causes specified under an extended coverage provision; and (D) other perils that are not specifically excluded in the policy form; and (3) insure the property of policyholders of the standard company against: (A) loss of use; (B) loss of occupancy; (C) loss of rents; and (D) additional expenses; that result from direct loss or damage to covered property. As added by P.L.129-2003, SEC.8.