1. (a) The use of a certificate of insurance form that:

   1. (1) is unfair, misleading, or deceptive; or

   2. (2) violates any law;

      is an unfair and deceptive act or practice in the business of insurance under IC 27-4-1-4 .

2. (b) If:

   1. (1) the commissioner has reason to believe that a certificate of insurance form is described in subsection (a)(1) or (a)(2); and

   2. (2) the certificate of insurance form was provided by a financial institution;

      the commissioner may refer the matter to the department of financial institutions for review under IC 28 .

As added by P.L.70-2013, SEC.1.