A standard company that is issued a certificate of authority under this article may:

1. (1) perform the business of insurance on:

   1. (A) an assessable;
   2. (B) a mutual; and

   3. (C) a nonprofit;

      basis;

2. (2) insure the property of policyholders of the standard company against loss or damage that is caused by:

   1. (A) fire;
   2. (B) windstorm;
   3. (C) causes specified under an extended coverage provision; and
   4. (D) other perils that are not specifically excluded in the policy form; and

3. (3) insure the property of policyholders of the standard company against:

   1. (A) loss of use;
   2. (B) loss of occupancy;
   3. (C) loss of rents; and

   4. (D) additional expenses;

      that result from direct loss or damage to covered property.

As added by P.L.129-2003, SEC.8.