Sec. 9. (a) The use of a certificate of insurance form that:
(1) is unfair, misleading, or deceptive; or
(2) violates any law;
is an unfair and deceptive act or practice in the business of insurance under IC 27-4-1-4.
(b) If:
(1) the commissioner has reason to believe that a certificate of insurance form is described in subsection (a)(1) or (a)(2); and
(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.