Title 27, INSURANCE

Sec. 13. In addition to any other required loss reserve certification, the controlled insurer shall annually, on April 1 of each year, file with the commissioner an opinion of an independent casualty actuary or such other independent loss reserve specialist acceptable to the comm…

Sec. 14. The controlled insurer shall annually report to the commissioner the amount of commissions paid to the producer, the percentage this amount represents of the net premiums written, and comparable amounts and percentage paid to noncontrolling producers for placements of th…

Sec. 15. A producer, before the effective date of the policy, shall deliver written notice to the prospective insured disclosing the relationship between the producer and the controlled insurer, except that, if the business is placed through a subproducer who is not a controlling…

Sec. 16. If the commissioner believes that the controlling producer or any other person has not materially complied with this chapter or any rule or order adopted under this chapter, after notice and opportunity to be heard, the commissioner may order the controlling producer to …

Sec. 17. If the commissioner finds that because of a material noncompliance under section 16 of this chapter the controlled insurer or any policyholder of the controlled insurer has suffered any loss or damage, the commissioner may maintain a civil action or intervene in an actio…

Sec. 18. If an order for liquidation or rehabilitation of the controlled insurer has been entered under IC 27-9, and the receiver appointed under that order believes that the controlling producer or any other person has not materially complied with this chapter or any rule or ord…

Sec. 19. Sections 16 through 18 of this chapter do not: (1) affect the right of the commissioner to impose any other penalties provided by Indiana law; or (2) in any manner alter or affect the rights of policyholders, claimants, creditors, or other third parties. As added by P.L.…

Sec. 2. As used in this chapter, "accredited state" means a state in which the insurance department or regulatory agency has qualified as meeting the minimum financial regulatory standards promulgated and established by the NAIC. As added by P.L.130-1994, SEC.36 and P.L.116-1994,…

Sec. 3. As used in this chapter, "captive insurer" means an insurance company owned by another organization whose exclusive purpose is to insure risks of the parent organization and affiliated companies, or in the case of groups and associations, insurance organizations owned by …

Sec. 4. As used in this chapter, "control" or "controlled" has the meaning set forth in IC 27-1-23-1. As added by P.L.130-1994, SEC.36 and P.L.116-1994, SEC.47.

Sec. 5. As used in this chapter, "controlled insurer" means a licensed insurer that is controlled, directly or indirectly, by a producer. As added by P.L.130-1994, SEC.36 and P.L.116-1994, SEC.47.

Sec. 6. As used in this chapter, "controlling producer" means a producer that, directly or indirectly, controls an insurer. As added by P.L.130-1994, SEC.36 and P.L.116-1994, SEC.47.

Sec. 7. As used in this chapter, "licensed insurer" or "insurer" means any person, firm, association, or corporation licensed to transact a property/casualty insurance business in Indiana. The following are not licensed insurers for the purposes of this chapter: (1) All risk rete…

Sec. 8. As used in this chapter, "producer" means an insurance broker or brokers or any other person, firm, association, or corporation, when, for any compensation, commission, or other thing of value, the person, firm, association, or corporation acts or aids in any manner in so…

Sec. 9. The provisions of sections 11 through 14 of this chapter apply if, in any calendar year, the aggregate amount of gross written premiums on business placed with a controlled insurer by a controlling producer is equal to or greater than five percent (5%) of the admitted ass…

Sec. 1. As used in this chapter, "covered individual" means an individual who: (1) is entitled to coverage under a policy of accident and sickness insurance; and (2) has a disability. As added by P.L.2-2019, SEC.9.

Sec. 2. As used in this chapter, "disability" has the meaning set forth in 42 U.S.C. 12102. As added by P.L.2-2019, SEC.9.

Sec. 3. As used in this chapter, "insurer" means an insurance company that issues a policy of accident and sickness insurance. The term includes an administrator that is licensed under IC 27-1-25 and administers a policy of accident and sickness insurance. As added by P.L.2-2019,…

Sec. 4. As used in this chapter, "policy of accident and sickness insurance" refers to a policy of accident and sickness insurance (as defined in IC 27-8-5-1) that provides coverage for anatomical gifts, transplantation, or related health care services. As added by P.L.2-2019, SE…

Sec. 5. An insurer shall not deny coverage for anatomical gifts, transplantation, or related health care services under a policy of accident and sickness insurance based solely on the disability of the covered individual. As added by P.L.2-2019, SEC.9.

Sec. 1. The commissioner may adopt reasonable rules under IC 4-22-2 that are necessary or proper to carry out this article. As added by P.L.26-1994, SEC.25.