This chapter shall apply to all kinds of direct insurance written by insurers licensed to transact insurance in this state but shall not be applicable to the following:
(1) Life, annuity, health, or accident and health insurance;
(2) Mortgage guaranty, financial guaranty, or other form of insurance offering protection against investment risks;
(3) Bail bonds or appearance bonds as defined in or otherwise referenced in § 17-19-101 et seq.;
(4) Credit insurance;
(5) Insurance of warranties or service contracts;
(6) Title insurance;
(7) Ocean marine insurance; and
(8) Any transaction or combination of transactions between a person, including affiliates of the person, and an insurer, including affiliates of the insurer, which involves the transfer of investment or credit risk unaccompanied by transfer of insurance risk.