Title 27, INSURANCE

Sec. 2. (a) The definitions in this section apply throughout this chapter. (b) "Account" means one (1) of the two (2) accounts created under section 3 of this chapter. (c) "Annuity contract", except as provided in section 2.3(e) of this chapter, includes: (1) a guaranteed investm…

Sec. 2.1. (a) For purposes of this chapter: (1) a policy or contract issued on a blanket basis is a group policy or group contract; (2) each individual insured under a policy or contract issued on a blanket basis is a certificate holder under the policy or contract; and (3) a pol…

Sec. 2.3. (a) Except as otherwise excluded or limited by this chapter, this chapter provides coverage for policies and contracts specified in subsection (d) as follows: (1) To a person, other than a certificate holder or enrollee under a group policy or a group contract, that, re…

Sec. 3. (a) There is created a nonprofit legal entity referred to as the Indiana Life and Health Insurance Guaranty Association. A member insurer shall be and remain a member of the association as a condition of the member insurer's authority to transact insurance in Indiana. The…

Sec. 4. (a) The board of directors of the association shall consist of not less than seven (7) nor more than eleven (11) member insurers serving terms established in the plan of operation. The members of the board shall be selected by member insurers subject to the approval of th…

Sec. 5. (a) If a member insurer is an impaired insurer, the association may, in the association's sole discretion and subject to any conditions imposed by the association that do not impair the contractual obligations of the impaired insurer and that are approved by the commissio…

Sec. 5.2. (a) At any time within one (1) year after the coverage date for an impaired insurer or insolvent insurer, the association may elect, subject to subdivisions (1) through (4), to succeed to the rights and obligations of the impaired insurer or insolvent insurer that accru…

Sec. 5.4. If the association has arranged or offered to discharge the association's obligations under this chapter with respect to contractual obligations owed to a person entitled to coverage under this chapter: (1) the person, and any other person claiming by, through, or under…

Sec. 5.5. (a) Venue in a suit against the association is in Marion County. (b) The association is not required to give an appeal bond in an appeal that relates to a cause of action arising under or with respect to this chapter. As added by P.L.193-2006, SEC.17.

Sec. 6. (a) For the purpose of providing funds necessary to carry out the powers and duties of the association and necessary to pay administrative costs and expenses incurred by the commissioner in supervising the association and discharging the commissioner's obligations under t…

Sec. 6.2. (a) A member insurer that wishes to protest all or part of an assessment made under section 6 of this chapter shall pay when due the full amount of the assessment as set forth in the notice provided by the association. The payment is available to meet association obliga…

Sec. 6.5. (a) The association may request information from a member insurer to aid in the exercise of the association's power under sections 6 and 6.2 of this chapter. (b) A member insurer that receives a request under subsection (a) shall promptly comply with the request. As add…

Sec. 7. (a) The association shall submit to the commissioner a plan of operation and any amendments to the plan of operation that are necessary or appropriate to assure the fair, reasonable, and equitable administration of the association. The plan of operation and an amendment t…

Sec. 8. (a) The commissioner shall do the following: (1) Upon request of the board, provide the association with a statement of the premiums in Indiana and other appropriate states for each member insurer. (2) When an impairment is declared and the amount of the impairment is det…

Sec. 9. (a) To aid in the detection and prevention of member insurer insolvencies or impairments, the commissioner shall do the following: (1) Notify the insurance regulatory authorities of all the other states not more than thirty (30) days after the date an action taken by the …

Sec. 1. (a) Standards of valuation for certificates issued before January 1, 1987, shall be those provided by the laws applicable on December 31, 1985. (b) The minimum standards of valuation for certificates issued after December 31, 1986, shall be based on the following tables: …

Sec. 10. Every society authorized to do business in Indiana shall be subject to IC 27-4-1 relating to unfair methods of competition and unfair or deceptive acts or practices, provided that nothing in those provisions shall be construed as applying to or affecting the right of any…

Sec. 2. (a) Reports shall be filed in accordance with this section. (b) Every society transacting business in this state shall annually, before March 1, unless for cause shown the time has been extended by the commissioner: (1) file with the commissioner: (A) a true statement of …

Sec. 3. The authority of all societies licensed may be renewed annually, but in all cases to terminate on April 30. However, a license shall continue in full force and effect until the new license is issued or specifically refused. For each license or renewal, the society shall p…

Sec. 4. (a) The commissioner or any person the commissioner may appoint may examine any domestic, foreign, or alien society transacting or applying for admission to transact business in Indiana in the same manner as authorized for examination of domestic, foreign, or alien insure…

Sec. 5. No foreign or alien society shall transact business in Indiana without a license issued by the commissioner. Any society desiring admission to Indiana shall comply substantially with the requirements and limitations of this article applicable to domestic societies. Any so…

Sec. 6. (a) When the commissioner upon investigation finds that a domestic society: (1) has exceeded its powers; (2) has failed to comply with this chapter; (3) is not fulfilling its contracts in good faith; (4) has a membership of less than four hundred (400) after an existence …

Sec. 7. (a) When the commissioner upon investigation finds that a foreign or alien society transacting or applying to transact business in Indiana: (1) has exceeded its powers; (2) has failed to comply with any of the provisions of this chapter; (3) is not fulfilling its contract…

Sec. 8. No application or petition for injunction against any domestic, foreign, or alien society, or lodge shall be recognized in any court of Indiana unless made by the attorney general upon request of the commissioner. As added by P.L.262-1985, SEC.1.

Sec. 9. (a) Insurance producers of societies shall be licensed in accordance with the laws regulating the licensing and the revocation, suspension, or termination of license of resident and nonresident insurance producers. (b) No examination or license shall be required of any re…

Sec. 0.1. The amendments made to section 2 of this chapter by P.L.133-1999 apply to external grievances filed by enrollees after January 1, 2000. As added by P.L.220-2011, SEC.458.

Sec. 1. On or before March 1 of each year, a health maintenance organization must file with the commissioner a report that covers the preceding calendar year. The report must be: (1) made on forms prescribed by the commissioner; and (2) verified by at least two (2) principal offi…

Sec. 1.5. (a) Each health maintenance organization authorized to conduct business in Indiana and required to file an Annual Statement Blank with the department under this chapter shall prepare the health maintenance organization's statement: (1) on the Annual Statement Blank; (2)…

Sec. 2. (a) In addition to the report required by section 1 of this chapter, a health maintenance organization shall each year file with the commissioner the following: (1) Audited financial statements of the health maintenance organization for the preceding calendar year prepare…

Sec. 3. (a) This section applies to a domestic health maintenance organization that is authorized to transact business in Indiana. (b) On or before March 1 of each year, a health maintenance organization shall file with the NAIC and with the department a copy of the health mainte…

Sec. 4. (a) The commissioner may impose a civil penalty of five hundred dollars ($500), after notice and hearing under IC 4-21.5-3, on a health maintenance organization that fails to file an annual statement under this chapter. (b) A domestic health maintenance organization that …

Sec. 1. The consideration to be distributed to the eligible members shall be: (1) cash; (2) stock or other securities of the former mutual or of the parent company; (3) additional paid up insurance or annuity benefits; (4) any combination of the forms of consideration listed in t…

Sec. 2. The amount and the form or forms of consideration to be distributed to a class, category, or group of eligible members may differ from the amount and form or forms of consideration to be distributed to another class, category, or group of eligible members. The choice of t…

Sec. 3. Distribution of all or part of the consideration to some or all of the eligible members may be delayed, or restrictions on sale or transfer of any stock or other securities to be distributed to eligible members may be required, for a reasonable period of time following th…

Sec. 4. (a) A converting mutual using IC 27-15-2-2 or a converting mutual using a simple plan of conversion under IC 27-15-2-3 may satisfy the requirement to distribute the fair value of the converting company to the eligible members by providing for the distribution to the eligi…

Sec. 1. A client and a PEO are each considered to be an employer for purposes of sponsoring retirement and welfare benefit plans for covered employees. As added by P.L.245-2005, SEC.7.

Sec. 2. A fully insured welfare benefit plan offered to covered employees of a single PEO is: (1) considered to be a single employer welfare benefit plan; and (2) not a multiple employer welfare arrangement (as defined in IC 27-1-34-1(b)) and is not required to comply with IC 27-…

Sec. 3. For purposes of IC 27-8-15, all covered employees of a PEO participating in a group health benefit plan sponsored by the PEO are considered to be: (1) employees of the PEO; and (2) participating in a single employer plan. As added by P.L.245-2005, SEC.7.

Sec. 4. If a PEO offers to the PEO's covered employees a health benefit plan that is not fully insured by an insurer authorized under this title to conduct the business of insurance in Indiana, the health benefit plan must: (1) be administered by an administrator licensed under I…

Sec. 1. (a) A written agreement entered into under IC 27-17-5-2 may be canceled for any reason by the cardholder within: (1) thirty (30) days after the date the cardholder's identification card is delivered; or (2) a period that exceeds the period specified in subdivision (1), as…

Sec. 2. A discount medical card program organization: (1) shall ensure that a cardholder receives, with the cardholder's identification card, notice that the written agreement may be canceled as provided in section 1 of this chapter; and (2) may not charge or collect a fee, inclu…

Sec. 3. A written agreement that is: (1) entered into under IC 27-17-5-2; and (2) canceled as provided in section 1 of this chapter; is void from the date the written agreement is entered into. As added by P.L.73-2006, SEC.3.