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344 chapters · 3,652 sections in this title.
Ind. Code § 27-1-25-5.5 Insurer responsibilities
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Sec. 5.5. (a) If an insurer uses the services of an administrator, the insurer is responsible for: (1) determining the: (A) benefits; (B) premium rates; (C) underwriting criteria; and (D) claims payment procedures; that apply to the coverage; and (2) securing reinsurance. (b) An …
Ind. Code § 27-1-25-6 Fiduciary status of administrator; fiduciary accounts
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Sec. 6. (a) An administrator is a fiduciary in collecting or returning premiums or charges for the insurer with whom it has a written agreement for administrative services. (b) Funds collected by the administrator shall be immediately remitted to the person entitled to the funds …
Ind. Code § 27-1-25-7 Payment of claims
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Sec. 7. All claims paid by an administrator from funds collected on behalf of an insurer shall be paid: (1) by draft or check; or (2) via electronic payment; as authorized by the insurer. As added by Acts 1980, P.L.168, SEC.2. Amended by Acts 1982, P.L.165, SEC.5; P.L.160-2003, S…
Ind. Code § 27-1-25-8 Administrator compensation
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Sec. 8. (a) An administrator may not enter into an agreement or understanding with an insurer if the effect of the agreement or understanding is to make the amount of a: (1) commission; (2) fee; or (3) charge; that is payable to the administrator contingent on savings effected in…