Title 27, INSURANCE

Sec. 1. As used in this chapter, "accident and sickness insurance policy" means a policy that: (1) provides the kinds of coverage described in Class 1(b) or Class 2(a) of IC 27-1-5-1; and (2) includes a prescription drug benefit. As added by P.L.107-2002, SEC.29.…

Sec. 2. As used in this chapter, "covered individual" means an individual who is covered under an accident and sickness insurance policy. As added by P.L.107-2002, SEC.29.

Sec. 3. An insurer that issues an accident and sickness insurance policy may report to the drug utilization review board established by IC 12-15-35-19 the number of covered individuals who are: (1) less than eighteen (18) years of age; and (2) prescribed a stimulant medication ap…

Sec. 1. (a) All applications, filings, and reports required under this article shall be treated as public records under IC 5-14-3, except those that are: (1) trade secrets; or (2) privileged or confidential: (A) quality management information; or (B) commercial or financial infor…

Sec. 1. As used in this chapter, "commissioner" refers to the insurance commissioner appointed under IC 27-1-1-2. As added by P.L.26-1991, SEC.5.

Sec. 10. (a) All examination reports shall be comprised of only: (1) facts: (A) appearing upon the books, records, or other documents of the company; and (B) ascertained from the agents or other persons examined, or as ascertained from the testimony of its officers or agents or o…

Sec. 11. (a) Within thirty (30) days after the end of the period allowed for the receipt of written submissions or rebuttals, the commissioner shall fully consider and review the report, together with any written submissions or rebuttals and any relevant portions of the examiner'…

Sec. 12. (a) All orders entered under section 11(a) of this chapter shall be accompanied by findings and conclusions resulting from the commissioner's consideration and review of the examination report, relevant examiner workpapers, and any written submissions or rebuttals. (b) A…

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) Except as provided in subsection (b), this chapter applies to all lines of commercial property and casualty insurance. (b) This chapter: (1) does not apply to the cancellation or nonrenewal of automobile insurance policies, as restricted under IC 27-7-6; and (2) does …

Sec. 2. (a) An insurer may not cancel a policy of insurance that the insurer has written that has been in effect more than ninety (90) days unless: (1) the insured under the policy has failed to pay the premium; (2) there is a substantial change in the scale of risk covered by th…

Sec. 2.5. An insurer may cancel a policy of insurance that the insurer has written that has been in effect ninety (90) days or less by mailing a written notice of cancellation to a person insured under the policy at least: (1) ten (10) days before cancelling if an insured has fai…

Sec. 3. (a) Except as provided in subsection (b), if an insurer refuses to renew a policy of insurance written by the insurer, the insurer shall mail written notice of nonrenewal to the insured: (1) at least forty-five (45) days before the expiration date of the policy, if the co…

Sec. 1. The purposes of this compact are, through means of joint and cooperative action among the compacting states, to: (1) promote and protect the interest of consumers of individual and group annuity, life insurance, disability income, and long term care insurance products; (2…

Sec. 10. The commission shall attempt, upon the request of a member, to resolve any disputes or other issues that are subject to this compact and that may arise between two (2) or more compacting states, or between compacting states and noncompacting states, and the commission sh…

Sec. 11. (a) Insurers and third party filers seeking to have a product approved by the commission shall file the product with and pay applicable filing fees to the commission. Nothing in this chapter restricts or otherwise prevents an insurer from filing the insurer's product wit…

Sec. 12. (a) Not later than thirty (30) days after the commission has given notice of a disapproved product or advertisement filed with the commission, the insurer or third party filer whose filing was disapproved may appeal the determination to a review panel appointed by the co…

Sec. 13. (a) The commission shall pay or provide for the payment of the reasonable expenses of the commission's establishment and organization. To fund the cost of the commission's initial operations, the commission may accept contributions and other forms of funding from the NAI…

Sec. 14. (a) Any state is eligible to become a compacting state. The compact becomes effective and binding upon legislative enactment of the compact into law by two (2) compacting states. However, the commission shall become effective for purposes of adopting uniform standards fo…

Sec. 15. (a) Once effective, the compact continues in force and remains binding upon each compacting state. However, a compacting state may withdraw from the compact by enacting a statute specifically repealing the statute that enacted the compact into law. (b) The effective date…

Sec. 16. (a) If the commission determines that any compacting state has at any time defaulted in the performance of any of the compacting state's obligations or responsibilities under this compact, the bylaws, or adopted rules or operating procedures, after notice and hearing as …

Sec. 17. The compact dissolves effective on the date of the withdrawal or default of the compacting state that reduces membership in the compact to one (1) compacting state. Upon the dissolution of this compact, the compact is null and void and is of no further force or effect, a…

Sec. 18. The provisions of this compact are severable and if any phrase, clause, sentence, or provision is considered unenforceable, the remaining provisions of the compact are enforceable. The provisions of this compact shall be liberally construed to effectuate the compact's pu…

Sec. 19. (a) Nothing in this chapter prevents the enforcement of any other law of a compacting state, except as provided in subsection (b). (b) For a product approved or certified to the commission, the rules, uniform standards, and any other requirements of the commission consti…

Sec. 2. (a) The definitions in this section apply throughout this chapter. (b) "Advertisement" means material designed to create public interest in a product or induce the public to purchase, increase, modify, reinstate, borrow on, surrender, replace, or retain a policy, as more …

Sec. 20. (a) All lawful actions of the commission, including all rules and operating procedures adopted by the commission, are binding upon the compacting states. (b) All agreements between the commission and the compacting states are binding in accordance with the terms of the a…

Sec. 3. (a) The compacting states hereby establish a joint public agency known as the interstate insurance product regulation commission. Under section 4 of this chapter, the commission may: (1) develop uniform standards for product lines; (2) receive and provide prompt review of…

Sec. 4. The commission has the following powers: (1) To adopt rules under section 8 of this chapter, which shall have the force and effect of law and are binding in the compacting states to the extent and in the manner provided in this compact. (2) To exercise the commission's ru…

Sec. 5. (a) Each compacting state shall have and be limited to one (1) member. Each member shall be qualified to serve in that capacity under applicable law of the compacting state. Any member may be removed or suspended from office as provided by the law of the state from which …

Sec. 6. (a) A management committee comprising not more than fourteen (14) members shall be established as follows: (1) One (1) member from each of the six (6) compacting states with the largest premium volume for individual and group annuities, life, disability income, and long t…

Sec. 7. (a) The commission shall meet and take any actions that are consistent with this compact and the bylaws. (b) Each member of the commission is entitled to cast a vote to which that compacting state is entitled and to participate in the business and affairs of the commissio…

Sec. 8. (a) The commission shall adopt reasonable rules, including uniform standards, and operating procedures in order to effectively and efficiently achieve the purposes of this compact. However, if the commission exercises the commission's rulemaking authority in a manner that…

Sec. 9. (a) The commission shall adopt rules establishing conditions and procedures for public inspection and copying of the commission's information and official records, except information and records involving the privacy of individuals and trade secrets of insurers. The commi…