(a) An insurer may provide a personal lines property and casualty insurance policy to a permitted group, on a group basis, provided that:
(1) the issuance of the policy results in economies of scale in administrative, marketing, or brokerage costs;
(2) the benefits provided under the policy are reasonable to the premiums charged; and
(3) the policy does not contain a shared aggregate limit.
(b) An insurance policy that provides group coverage under this chapter may not include a provision under which the payment of a certificate holder's claims is limited by the claims or losses incurred by another certificate holder.
(c) An insurer may not renew an insurance policy that provides group coverage under this chapter to a group that includes fewer than 10 certificate holders as part of the group at the time of renewal.