As used in this chapter, "group non-trucking liability insurance policy" means a policy of insurance that provides non-trucking liability insurance, and may provide optional physical damage insurance coverage, to participating group members under one (1) master policy:

1. (1) that is issued to a named insured; and
2. (2) under which individual certificates, each with separate limits of liability and coverage, are issued to participating group members.

As added by P.L.146-2015, SEC.32.