Title 27, INSURANCE

Sec. 13. (a) The commissioner may not appoint an examiner as authorized representative to conduct a hearing. The hearing shall proceed expeditiously with discovery by the company limited to the examiner's workpapers which tend to substantiate any assertions set forth in any writt…

Sec. 14. (a) Upon the adoption of an examination report under section 11(a)(1) of this chapter, the commissioner shall continue to hold the content of the examination report as confidential information for a period of thirty (30) days except to the extent provided in section 10(b…

Sec. 15. (a) All working papers, recorded information, documents, and copies thereof produced by, obtained by, or disclosed to the commissioner or any other person in the course of an examination under this chapter (including trade secrets and information obtained from a federal …

Sec. 16. (a) No examiner may be appointed by the commissioner if that examiner, either directly or indirectly, has a conflict of interest or is affiliated with the management of or owns a pecuniary interest in any person subject to examination under this chapter. However, this se…

Sec. 17. (a) No cause of action shall arise nor shall any liability be imposed against the commissioner, the commissioner's authorized representatives or any examiner appointed by the commissioner for any statements made or conduct performed in good faith while carrying out the p…

Sec. 18. (a) The commissioner shall provide any financial analysis ratios computed by the Insurance Regulatory Information System within five (5) business days after receiving a written request for those ratios. (b) All examination synopses concerning insurance companies that are…

Sec. 2. As used in this chapter, "company" means any person engaging in or proposing or attempting to engage in any transaction or kind of insurance or surety business and any person or group of persons who may otherwise be subject to the administrative, regulatory, or taxing aut…

Sec. 3. As used in this chapter, "department" refers to the department of insurance of Indiana. As added by P.L.26-1991, SEC.5.

Sec. 4. As used in this chapter, "examiner" means any individual or firm authorized by the commissioner to conduct an examination under this chapter. As added by P.L.26-1991, SEC.5.

Sec. 5. As used in this chapter, "insurer" has the meaning set forth in IC 27-1-2-3. As added by P.L.26-1991, SEC.5.

Sec. 7. As used in this chapter, "person" means any individual, aggregation of individuals, trust, association, partnership, limited liability company, or corporation, or any affiliate of these entities. As added by P.L.26-1991, SEC.5. Amended by P.L.8-1993, SEC.410.

Sec. 8. (a) The commissioner or any of the commissioner's examiners: (1) may conduct an examination under this chapter of any company as often as the commissioner, in the commissioner's sole discretion, considers appropriate; and (2) shall, at a minimum, conduct an examination of…

Sec. 9. (a) Upon determining that an examination should be conducted, the commissioner or the commissioner's designee shall issue an examination warrant appointing one (1) or more examiners to perform the examination and instructing them as to the scope of the examination. In con…

Sec. 1. (a) As used in this chapter, "actual direct compensatory damages" includes: (1) normal and reasonable costs of cover; and (2) other reasonable measures of damages used in the derivatives market, the securities market, or another market for contract claims. (b) The term do…

Sec. 10. As used in this chapter, "swap agreement" has the meaning set forth in the Federal Deposit Insurance Act (12 U.S.C. 1821). As added by P.L.11-2011, SEC.36.

Sec. 11. As used in this chapter, "walkaway clause" means a provision in a netting agreement or qualified financial contract that, after calculation of the value of a party's position or an amount due to or from a party under the netting agreement or qualified financial contract …

Sec. 12. Notwithstanding any other provision of this title to the contrary, a person may exercise any of the following: (1) A contractual right to cause the termination, liquidation, acceleration, or close-out of obligations in connection with a netting agreement or qualified fin…

Sec. 13. (a) If a counterparty to a netting agreement or qualified financial contract with an insurer that is subject to a proceeding under IC 27-9-3 terminates, liquidates, closes out, or accelerates the netting agreement or qualified financial contract, damages must be measured…

Sec. 14. (a) Notwithstanding a walkaway clause in a netting agreement or qualified financial contract, upon termination of the netting agreement or qualified financial contract, any net or settlement amount owed by a nondefaulting party to an insurer against which an application …

Sec. 15. In making a transfer of a netting agreement or qualified financial contract of an insurer that is subject to a proceeding under IC 27-9-3, the receiver shall either: (1) transfer to one (1) party, other than an insurer subject to a proceeding under IC 27-9-3, all netting…

Sec. 16. If an insurer's receiver makes a transfer of at least one (1) netting agreement or qualified financial contract under section 14 of this chapter, the receiver shall use the receiver's best efforts to notify any person that is a party to the netting agreement or qualified…

Sec. 17. Notwithstanding IC 27-9-3 and this chapter, a receiver may not avoid a transfer of money or other property arising in connection with: (1) a netting agreement or qualified financial contract; (2) a pledge, security, collateral, reimbursement, guarantee agreement, or simi…

Sec. 18. In exercising a receiver's right of disaffirmance or repudiation with respect to a netting agreement or qualified financial contract to which an insurer is a party, the receiver for the insurer shall either: (1) disaffirm or repudiate all netting agreements and qualified…

Sec. 19. (a) Notwithstanding IC 27-9-3 and this chapter, a claim of a counterparty against an estate arising from an insurer's receiver's disaffirmance or repudiation of a netting agreement or qualified financial contract that has not been previously affirmed in the liquidation o…

Sec. 2. As used in this chapter, "business day" means a day other than: (1) Saturday; (2) Sunday; or (3) a day on which either the New York Stock Exchange or the Federal Reserve Bank of New York is closed. As added by P.L.11-2011, SEC.36.

Sec. 20. All rights of counterparties under this chapter apply to netting agreements and qualified financial contracts entered into on behalf of the general account or separate accounts if the assets of each separate account are: (1) available only to counterparties to netting ag…

Sec. 3. As used in this chapter, "commodity contract" means any of the following: (1) A contract for the purchase or sale of a commodity: (A) for future delivery on; or (B) subject to the rules of; a board of trade or contract market under the federal Commodity Exchange Act (7 U.…

Sec. 4. As used in this chapter, "contractual right" includes the following: (1) A right set forth in a rule, bylaw, or resolution of the governing board of any of the following: (A) A derivatives clearing organization (as defined in the federal Commodity Exchange Act (7 U.S.C. 1…

Sec. 5. As used in this chapter, "forward contract" has the meaning set forth in the Federal Deposit Insurance Act (12 U.S.C. 1821). As added by P.L.11-2011, SEC.36.

Sec. 6. (a) As used in this chapter, "netting agreement" means a new agreement that: (1) allows the parties to a previous agreement to aggregate the amounts owing by each party under all transactions that are outstanding under the previous agreement; and (2) replaces the amounts …

Sec. 7. As used in this chapter, "qualified financial contract" means a commodity contract, forward contract, repurchase agreement, securities contract, swap agreement, or a similar agreement, as determined by the commissioner. As added by P.L.11-2011, SEC.36.

Sec. 8. As used in this chapter, "repurchase agreement" has the meaning set forth in the Federal Deposit Insurance Act (12 U.S.C. 1821). As added by P.L.11-2011, SEC.36.

Sec. 9. As used in this chapter, "securities contract" has the meaning set forth in the Federal Deposit Insurance Act (12 U.S.C. 1821). As added by P.L.11-2011, SEC.36.