Title 27, INSURANCE

Sec. 13. (a) An insurance company or insurance producer shall not pay a commission, service fee, brokerage fee, or other valuable consideration to a person for selling, soliciting, or negotiating insurance in Indiana if the person is required to be licensed under this chapter and…

Sec. 13.5. (a) This section applies only to the following: (1) An individual, group, franchise, or blanket policy of accident and sickness insurance, as defined in IC 27-8-5-1. However, this section does not apply to the types of insurance and coverage described in IC 27-8-5-2.5(…

Sec. 13.6. (a) This section applies to the sale, solicitation, or negotiation by an insurance producer of the following: (1) A policy of accident and sickness insurance (as defined in IC 27-8-5-1) issued on a group, a franchise, or a blanket basis. However, this section does not …

Sec. 14. An insurance producer shall not act as an agent of an insurer unless the insurance producer becomes an appointed producer of the insurer. An insurance producer who is not acting as an agent of an insurer is not required to become appointed. As added by P.L.132-2001, SEC.…

Sec. 15. (a) An insurer or authorized representative of an insurer that terminates the appointment, employment, contract, or other insurance business relationship with a producer shall notify the commissioner not more than thirty (30) days after the effective date of the terminat…

Sec. 16. (a) The commissioner shall waive any requirements, except the requirements imposed by section 8 of this chapter, for a nonresident license applicant with a valid license from the applicant's home state if the applicant's home state awards nonresident licenses to resident…

Sec. 17. (a) A producer shall report to the commissioner any administrative action taken against the producer in another jurisdiction or by another governmental agency in Indiana not more than thirty (30) days after the final disposition of the matter. The report shall include a …

Sec. 18. The commissioner may issue a limited lines producer's license to the following without examination: (1) A limited lines travel insurance producer. (2) A limited line credit insurance producer. (3) A person who will only negotiate or solicit insurance under Class 2(j) of …

Sec. 19. (a) As used in this section, "prearranged funeral insurance" means insurance that is used to fund any of the following: (1) A funeral trust under IC 30-2-10 and IC 30-2-13. (2) Any other arrangement for advance payment of funeral and burial expenses. (b) A person shall n…

Sec. 19.5. (a) As used in this section, "annuity" means an annuity that is: (1) an insurance product under Indiana law; and (2) solicited individually, regardless of whether the insurance product is classified as an individual annuity or a group annuity. (b) A person may not sell…

Sec. 19.9. (a) The commissioner may issue a limited lines travel insurance producer license to a person that files an application with the commissioner for a limited lines travel producer insurance license in the form and manner prescribed by the commissioner. A limited lines tra…

Sec. 2. Except as otherwise provided in this section, the following definitions apply throughout this chapter, IC 27-1-15.7, IC 27-1-15.8, and IC 27-7-17: (1) "Bureau" refers to the child support bureau established by IC 31-25-3-1. (2) "Business entity" means a corporation, an as…

Sec. 20. (a) As used in this section, "crop hail insurance" means insurance that is used only in the event of hail related disasters to growing farm crops. (b) As used in this section, "multi-peril crop insurance" means insurance that is: (1) used in the event of weather related …

Sec. 21. (a) Service of process upon any nonresident producer licensee in any action or proceeding in any court of competent jurisdiction of Indiana arising out of the nonresident producer's insurance business in Indiana may be made by serving the commissioner with appropriate co…

Sec. 22. An insurance producer may not receive compensation for the sale, solicitation, negotiation, or renewal of any insurance policy issued to any person or entity for whom the insurance producer, for a fee, acts as a consultant for that policy unless: (1) the insurance produc…

Sec. 23. (a) An individual or corporation shall not engage in the business of an insurance consultant until a consultant license has been issued to the individual or corporation by the commissioner. However, a consultant license is not required for the following: (1) An attorney …

Sec. 24. (a) This section applies to commercial property and casualty insurance coverage described in Class 2 and Class 3 of IC 27-1-5-1. (b) A licensed insurance producer may charge a commercial insured a reasonable fee to reimburse the insurance producer for expenses incurred b…

Sec. 24.1. A licensed insurance producer may charge a reasonable fee for personal lines property and casualty insurance or services related to personal lines property and casualty insurance subject to the following requirements: (1) The amount of a fee and the basis for calculati…

Sec. 25. An individual who performed the functions of a person representing a fraternal benefit society before July 1, 1977, is not required to take an examination, but is entitled to have an insurance producer's license issued to the individual, subject to IC 27-1-15.7 and the r…

Sec. 26. A person who performed the functions of a limited lines producer negotiating or soliciting the type of insurance described in IC 27-1-5-1, Class 2(j) before July 1, 1977, is not required to take an examination, but is entitled to have an insurance producer's license issu…

Sec. 27. A person who held a valid solicitor's license on July 1, 1977, is subject to the same rights and responsibilities under a solicitor's license as the rights and responsibilities that were in effect before enactment of this chapter. As added by P.L.132-2001, SEC.3.

Sec. 28. (a) Upon receiving an order of a court issued under IC 31-16-12-10 (or IC 31-1-11.5-13(m), IC 31-6-6.1-16(m), or IC 31-14-12-7 before their repeal), the commissioner shall: (1) suspend a license issued under this chapter to the person who is the subject of the order; and…

Sec. 29. (a) Upon receiving an order from the bureau (Title IV-D agency) under IC 31-25-4-32(i) or IC 31-25-4-34(d), the commissioner shall place on probationary status any license issued under this article and held by the person who is the subject of the order. The commissioner …

Sec. 29.5. If the commissioner receives a copy of a final order from the securities commissioner under IC 23-19-6-4(h), the commissioner shall: (1) determine whether the person who is the subject of the final order is licensed by the department under this chapter; and (2) if the …

Sec. 3. (a) A person shall not sell, solicit, or negotiate insurance in Indiana for any class or classes of insurance unless the person is licensed for that line of authority under this chapter. (b) An insurer shall require a person who sells, solicits, or negotiates insurance in…

Sec. 30. The commissioner and the director of the department of financial institutions shall consult with each other and assist each other in enforcing compliance with the provisions of IC 28 concerning the sale of life insurance policies and annuity contracts. The commissioner a…

Sec. 31. An insurance producer shall not: (1) be named a beneficiary of; (2) become an owner of; or (3) receive a collateral assignment of; an individual life insurance policy or individual annuity contract unless the insurance producer has an insurable interest in the life of th…

Sec. 32. (a) The department shall adopt rules under IC 4-22-2 to set fees for licensure under this chapter, IC 27-1-15.7, and IC 27-1-15.8. (b) Insurance producer and limited lines producer license renewal fees are due every two (2) years. The fee charged by the department every …

Sec. 33. Except as otherwise provided in section 32 of this chapter, the commissioner may adopt rules under IC 4-22-2 to carry out the purposes of this chapter. As added by P.L.132-2001, SEC.3.

Sec. 34. All hearings held under this chapter are governed by IC 4-21.5-3. The commissioner may appoint members of the commissioner's staff to act as hearing officers for purposes of hearings held under this chapter. As added by P.L.132-2001, SEC.3.

Sec. 4. (a) As used in this section, "insurer" does not include an officer, director, employee, subsidiary, or affiliate of an insurer. (b) This chapter does not require an insurer to obtain an insurance producer license. (c) The following are not required to be licensed as an in…

Sec. 5. (a) A resident individual applying for: (1) an insurance producer license; (2) a consultant's license; or (3) a surplus lines producer license; must pass a written examination unless the individual is exempt under section 9 of this chapter. (b) The examination required un…

Sec. 6. (a) A person applying for a resident insurance producer license shall make application to the commissioner on the uniform application and declare under penalty of refusal, suspension, or revocation of the license that the statements made in the application are true, corre…

Sec. 7. (a) Unless denied licensure under section 12 of this chapter, a person who has met the requirements of sections 5 and 6 of this chapter shall be issued an insurance producer license. An insurance producer may receive qualification for a license in one (1) or more of the f…

Sec. 7.3. (a) The commissioner may design or have designed an insurance producer certificate suitable for framing and display. (b) Upon request of an insurance producer, the commissioner may issue a certificate described in subsection (a). (c) The commissioner may impose and coll…

Sec. 8. (a) Unless denied licensure under section 12 of this chapter, a nonresident person shall receive a nonresident producer license if: (1) the person is currently licensed as a resident and in good standing in the person's home state; (2) the person has submitted the proper …

Sec. 8.2. (a) Unless denied licensure under section 12 of this chapter, a person that is not a resident of Indiana shall receive a designated home state license if: (1) the person has requested licensure in Indiana for a line of authority for which licensure is not required in th…

Sec. 9. (a) An individual who applies for an insurance producer license in Indiana and who was previously licensed for the same lines of authority in another state is not required to complete any prelicensing education or examination. However, the exemption provided by this subse…