(4) “Fraudulent insurance act” means an act or omission committed by a person who, knowingly and with intent to defraud, deceive, conceal, or misrepresent: (A) Presents, causes to be presented, or prepares with knowledge or belief that it will be presented to an insurer, a reinsurer, broker or its agent, or by a broker or agent, false information as part of, in support of, or concerning a fact material to one (1) or more of the following: (i) An application for the issuance or renewal of an insurance policy or reinsurance contract; (ii) The rating of an insurance policy or reinsurance contract; (iii) A claim for payment or benefit pursuant to an insurance policy or reinsurance contract; (iv) Premiums paid on an insurance policy or reinsurance contract; (v) Payments made in accordance with the terms of an insurance policy or reinsurance contract; (vi) A document filed with the commissioner or the chief insurance regulatory official of another jurisdiction; (vii) The financial condition of an insurer or reinsurer; (viii) The formation, acquisition, merger, reconsolidation, dissolution, or withdrawal from one (1) or more lines of insurance or reinsurance in all or part of this state by an insurer or reinsurer; (ix) The issuance of written evidence of insurance; or (x) The reinstatement of an insurance policy; (B) Solicits or accepts new or renewal insurance risks on behalf of an insurer, reinsurer, or other person engaged in the business of insurance by a person who knows or should know that the insurer or other person responsible for the risk is insolvent at the time of the transaction; (C) Removes, conceals, alters, or destroys the assets or records of an insurer, reinsurer, or other person engaged in the business of insurance; (D) Embezzles, abstracts, purloins, or converts moneys, funds, premiums, credits, or other property of an insurer, reinsurer, or person engaged in the business of insurance; (E) Transacts the business of insurance in violation of laws requiring a license, certificate of authority, or other legal authority for the transaction of the business of insurance;