As used in this chapter:
(1) "Hiring party" means a person who hires or enters into a contract with an independent contractor.
(2) "Independent contractor" means the same as that term is defined in Section 34A-2-103.
(3) "Portable benefit plan" means a group that:
(a) offers an insurance product regulated by:
(i) Title 31A, Insurance Code; or
(ii) Title 35A, Chapter 4, Employment Security Act; and
(b) is assigned to an individual beneficiary and is not associated with a specific employer or hiring party.