Title 27, INSURANCE

Sec. 32. (a) This section applies only to a: (1) prescription drug that is: (A) consistent with best practices for the treatment of advanced, metastatic cancer or an associated condition; (B) supported by peer reviewed, evidence based literature; and (C) approved by the federal F…

Sec. 4. (a) No policy provision which is not subject to section 3 of this chapter shall make a policy, or any portion thereof, less favorable in any respect to the insured or the beneficiary than the provisions thereof which are subject to this chapter. (b) A policy delivered or …

Sec. 5. (a) The insured shall not be bound by any statement made in an application for a policy unless a copy of such application is attached to or endorsed on the policy when issued as a part of the policy. If any such policy delivered or issued for delivery to any person in thi…

Sec. 6. The acknowledgment by any insurer of the receipt of notice given under any policy covered by this chapter, or the furnishing of forms for filing proofs of loss, or the acceptance of such proofs, or the investigation of any claim under the policy shall not operate as a wai…

Sec. 7. If any such policy contains a provision establishing, as an age limit or otherwise, a date after which the coverage provided by the policy will not be effective, and if such date falls within a period for which premium is accepted by the insurer or if the insurer accepts …

Sec. 8. Except as otherwise expressly indicated in this section, nothing contained in sections 1 through 7 of this chapter shall apply to or affect: (1) any policy of worker's compensation insurance or any policy of liability insurance with or without supplementary coverage in th…

Sec. 9. An individual accident and sickness insurance policy form or any form of rider or endorsement appertaining to such a policy form, which could have been lawfully used or delivered or issued for delivery to any person in this state immediately before February 20, 1953, may …

Sec. 1. (a) The bail bond enforcement and administration fund is created. All fees and penalties collected by the commissioner under this article shall be paid into the fund to be utilized for the enforcement and administration of this article. The fund shall be administered by t…

Sec. 2. The money in the fund created by this chapter shall be used for the following purposes and no other: (1) The employment of a qualified investigator and investigation staff. (2) The expense of examination. (3) Licensing. (4) Forms. (5) Other related expenses necessitated b…

Sec. 3. (a) The commissioner shall appoint a qualified investigator who shall serve at the pleasure of the commissioner. The investigator shall be of good moral character, have had at least five (5) years of experience as an insurance or private investigator or equivalent experie…

Sec. 1. (a) A domestic society may amend its laws in accordance with the provisions of the domestic society by action of its supreme governing body at any regular or special meeting of the domestic society or, if its laws provide, by referendum. The referendum may be held in acco…

Sec. 2. A society may create, maintain, and operate or may establish organizations to operate not-for-profit institutions to further the purposes permitted by IC 27-11-2-3. Such institutions may furnish services free or at a reasonable charge. Any real or personal property owned,…

Sec. 3. (a) A domestic society may by a reinsurance agreement cede any individual risk or risks in whole or in part to an insurer (other than another fraternal benefit society) having the power to make the reinsurance and authorized to do business in this state or, if not so auth…

Sec. 4. (a) A domestic society may consolidate or merge with any other society by complying with this section. It shall file with the commissioner: (1) a certified copy of the written contract containing in full the terms and conditions of the consolidation or merger; (2) a sworn…

Sec. 5. Any domestic fraternal benefit society may be converted and licensed as a mutual life insurance company by compliance with all the requirements of the insurance law for mutual life insurance companies. A plan of conversion shall be prepared in writing by the board of dire…

Sec. 1. Any: (1) director; (2) officer; (3) employee; or (4) partner; of a health maintenance organization who receives, collects, disburses, or invests funds in connection with the activities of the organization has a fiduciary responsibility to the organization for the funds. A…

Sec. 2. A health maintenance organization shall maintain in force a fidelity bond or fidelity insurance on the directors, officers, employees, and partners referred to in section 1 of this chapter: (1) in an amount: (A) not less than two hundred and fifty thousand dollars ($250,0…

Sec. 1. The proposed plan of conversion and amendment to the articles of incorporation of the converting mutual shall be submitted to a vote of the members of the converting mutual, as provided in IC 27-1-8-3 and in this chapter. As added by P.L.94-1999, SEC.3.

Sec. 2. The meeting of members shall be held not later than ninety (90) days after the later of: (1) the issuance of the commissioner's order approving the conversion; or (2) the final resolution of an appeal of that decision under this article. As added by P.L.94-1999, SEC.3.…

Sec. 3. (a) The members of the converting mutual entitled to vote on the plan of conversion and the amendment to the articles of incorporation shall be given written notice of their opportunity to vote. The notice shall be accompanied by explanatory information concerning the con…

mailing Sec. 4. The notice described in section 3 of this chapter: (1) must achieve a minimum score of forty (40) on the Flesch reading ease test or an equivalent score on a comparable test approved by the commissioner; (2) shall be mailed, or provided by some other method or met…

Sec. 5. (a) Only members of the converting mutual as of both: (1) the date the converting mutual's board of directors adopted the resolution proposing the plan of conversion and the amendment to the articles of incorporation; and (2) the record date for the members' meeting estab…

Sec. 6. Notwithstanding IC 27-1-7-9, a member may vote by proxy only if: (1) the proxy was solicited and obtained from the member for the express purpose of voting on the plan of conversion and the amendment to the articles of incorporation; and (2) the proxy solicitation materia…

Sec. 7. The proposed plan of conversion and amendment to the converting mutual's articles of incorporation shall be approved by the members upon receiving the affirmative votes of: (1) at least two-thirds (2/3) of the members voting at the meeting; and (2) if the plan provides fo…

Sec. 1. Upon filing an initial registration application under IC 27-16-4-2, a PEO shall pay an initial registration fee not to exceed five hundred dollars ($500). As added by P.L.245-2005, SEC.7.

Sec. 2. Upon the filing of an annual renewal of a registration under IC 27-16-4-4, a PEO shall pay a renewal fee not to exceed two hundred fifty dollars ($250). As added by P.L.245-2005, SEC.7.

Sec. 3. Upon initial application for limited registration under IC 27-16-4-6 and upon each annual renewal of the limited registration, a PEO shall pay a fee not to exceed two hundred fifty dollars ($250). As added by P.L.245-2005, SEC.7.

Sec. 4. The department shall adopt rules under IC 4-22-2 to specify any fee to be charged for a PEO group registration. As added by P.L.245-2005, SEC.7.

Sec. 5. A PEO seeking registration under IC 27-16-4-7 shall pay an initial and annual fee not to exceed two hundred fifty dollars ($250). As added by P.L.245-2005, SEC.7.

Sec. 6. (a) The department shall adopt rules under IC 4-22-2 to specify any other fee to be charged under this article. (b) A fee: (1) for which the amount is not specified in; and (2) that is charged under; this article must not exceed the amount reasonably necessary for the adm…

Sec. 7. Fees collected under this chapter shall be deposited in the department of insurance fund established by IC 27-1-3-28. As added by P.L.245-2005, SEC.7.

Sec. 1. (a) A discount medical card program organization shall make to a prospective cardholder, and print on the first page of advertisements, marketing materials, and brochures relating to a discount medical card program, the following written disclosures: (1) That the discount…

Sec. 2. (a) A person that wishes to be a cardholder of a discount medical card program shall enter into a written agreement with the discount medical card program organization. (b) A written agreement entered into under subsection (a) must: (1) specify the cardholder's benefits u…

Sec. 3. A marketing organization that is wholly owned by an insurer or a health maintenance organization granted a certificate of authority under this title shall disclose the marketing organization's parent company affiliation in all marketing and membership materials. As added …

Sec. 1. A mutual insurance holding company organized under this article is subject to any rules adopted by the commissioner under IC 4-22-2. As added by P.L.226-2023, SEC.30.

Sec. 2. The articles of incorporation of a mutual insurance holding company must contain the following or provisions at least substantially equivalent to the following: (1) The name of the mutual insurance holding company, which must include the term "mutual" or the abbreviation …

Sec. 3. The members of a mutual insurance holding company have the rights and obligations specified in: (1) this article; and (2) the articles of incorporation and bylaws of the mutual insurance holding company. As added by P.L.226-2023, SEC.30.

Sec. 4. (a) With the written approval of the commissioner, and subject to any conditions that the commissioner may impose, a mutual insurance holding company may do any of the following: (1) Merge or consolidate with, or acquire the assets of: (A) a mutual insurance holding compa…

Sec. 5. (a) Except as provided in subsection (b), a mutual insurance holding company: (1) has and may exercise all the rights and privileges of insurance companies formed under this title; and (2) is subject to all of the requirements and regulations imposed upon insurance compan…

Sec. 6. (a) Not later than June 1 of each year, each mutual insurance holding company must file with the commissioner an annual statement consisting of the following information: (1) Audited financial statements, including: (A) an income statement; (B) a balance sheet; and (C) a …

Sec. 7. (a) A mutual insurance holding company, an intermediate stock holding company, and stock insurance company subsidiaries that are owned entirely or in part, directly or indirectly, by the mutual insurance holding company constitute an insurance holding company system (as d…

Sec. 8. A membership interest in a mutual insurance holding company does not constitute a security under Indiana law. As added by P.L.226-2023, SEC.30.

Sec. 9. A mutual insurance holding company may convert to a stock company under IC 27-15 as though the mutual insurance holding company were a mutual insurance company. As added by P.L.226-2023, SEC.30.