Sec. 1. (a) This chapter supplements the requirements set forth for a standard company in IC 27-5.1-2.
(b) A standard company may not insure a policyholder of the farm mutual insurance company:
(1) against loss to a motor vehicle owned by the policyholder from peril;
(2) against liability resulting from the use of a motor vehicle owned by the policyholder;
(3) for property loss in connection with a specific loan or other credit transaction; or
(4) for personal, commercial, and farm liability.