Title 27, INSURANCE

Sec. 13. (a) If a counterparty to a netting agreement or qualified financial contract with an insurer that is subject to a proceeding under IC 27-9-3 terminates, liquidates, closes out, or accelerates the netting agreement or qualified financial contract, damages must be measured…

Sec. 14. (a) Notwithstanding a walkaway clause in a netting agreement or qualified financial contract, upon termination of the netting agreement or qualified financial contract, any net or settlement amount owed by a nondefaulting party to an insurer against which an application …

Sec. 15. In making a transfer of a netting agreement or qualified financial contract of an insurer that is subject to a proceeding under IC 27-9-3, the receiver shall either: (1) transfer to one (1) party, other than an insurer subject to a proceeding under IC 27-9-3, all netting…

Sec. 16. If an insurer's receiver makes a transfer of at least one (1) netting agreement or qualified financial contract under section 14 of this chapter, the receiver shall use the receiver's best efforts to notify any person that is a party to the netting agreement or qualified…

Sec. 17. Notwithstanding IC 27-9-3 and this chapter, a receiver may not avoid a transfer of money or other property arising in connection with: (1) a netting agreement or qualified financial contract; (2) a pledge, security, collateral, reimbursement, guarantee agreement, or simi…

Sec. 18. In exercising a receiver's right of disaffirmance or repudiation with respect to a netting agreement or qualified financial contract to which an insurer is a party, the receiver for the insurer shall either: (1) disaffirm or repudiate all netting agreements and qualified…

Sec. 19. (a) Notwithstanding IC 27-9-3 and this chapter, a claim of a counterparty against an estate arising from an insurer's receiver's disaffirmance or repudiation of a netting agreement or qualified financial contract that has not been previously affirmed in the liquidation o…

Sec. 2. As used in this chapter, "business day" means a day other than: (1) Saturday; (2) Sunday; or (3) a day on which either the New York Stock Exchange or the Federal Reserve Bank of New York is closed. As added by P.L.11-2011, SEC.36.

Sec. 20. All rights of counterparties under this chapter apply to netting agreements and qualified financial contracts entered into on behalf of the general account or separate accounts if the assets of each separate account are: (1) available only to counterparties to netting ag…

Sec. 3. As used in this chapter, "commodity contract" means any of the following: (1) A contract for the purchase or sale of a commodity: (A) for future delivery on; or (B) subject to the rules of; a board of trade or contract market under the federal Commodity Exchange Act (7 U.…

Sec. 4. As used in this chapter, "contractual right" includes the following: (1) A right set forth in a rule, bylaw, or resolution of the governing board of any of the following: (A) A derivatives clearing organization (as defined in the federal Commodity Exchange Act (7 U.S.C. 1…

Sec. 5. As used in this chapter, "forward contract" has the meaning set forth in the Federal Deposit Insurance Act (12 U.S.C. 1821). As added by P.L.11-2011, SEC.36.

Sec. 6. (a) As used in this chapter, "netting agreement" means a new agreement that: (1) allows the parties to a previous agreement to aggregate the amounts owing by each party under all transactions that are outstanding under the previous agreement; and (2) replaces the amounts …

Sec. 7. As used in this chapter, "qualified financial contract" means a commodity contract, forward contract, repurchase agreement, securities contract, swap agreement, or a similar agreement, as determined by the commissioner. As added by P.L.11-2011, SEC.36.

Sec. 8. As used in this chapter, "repurchase agreement" has the meaning set forth in the Federal Deposit Insurance Act (12 U.S.C. 1821). As added by P.L.11-2011, SEC.36.

Sec. 9. As used in this chapter, "securities contract" has the meaning set forth in the Federal Deposit Insurance Act (12 U.S.C. 1821). As added by P.L.11-2011, SEC.36.

Sec. 1. (a) Notwithstanding IC 27-13-30, any information: (1) that pertains to the diagnosis, treatment, or health of any enrollee of a health maintenance organization or limited service health maintenance organization; and (2) that is obtained from: (A) the enrollee; or (B) any …

Sec. 2. (a) As used in this section, "in good faith and without malice" when used to describe an action taken or a decision or recommendation made means that: (1) a reasonable effort has been taken to obtain the facts of the matter; (2) a reasonable belief exists that the action,…

Sec. 3. (a) Notwithstanding IC 27-13-30, the information considered by a health care review committee and the record of the actions and proceedings of the committee are confidential for purposes of IC 5-14-3-4 and not subject to subpoena or order to produce, except: (1) in procee…

Sec. 4. To fulfill its obligations under IC 27-13-6 concerning the quality management program of the organization, a health maintenance organization is entitled to access to treatment records and other information pertaining to the diagnosis, treatment, and health status of any e…

Sec. 1. This chapter applies to a policy of accident and sickness insurance that provides coverage for both of the following: (1) Orally administered cancer chemotherapy. (2) Cancer chemotherapy that is administered intravenously or by injection. As added by P.L.46-2009, SEC.1.…

Sec. 2. As used in this chapter, "cancer chemotherapy" means medication that is prescribed by a physician to kill or slow the growth of cancer cells. As added by P.L.46-2009, SEC.1.

Sec. 3. As used in this chapter, "insured" means an individual who is entitled to coverage under a policy of accident and sickness insurance. As added by P.L.46-2009, SEC.1.

Sec. 4. As used in this chapter, "policy of accident and sickness insurance" has the meaning set forth in IC 27-8-5-1. As added by P.L.46-2009, SEC.1.

Sec. 5. Coverage for orally administered cancer chemotherapy under a policy of accident and sickness insurance must not be subject to dollar limits, copayments, deductibles, or coinsurance provisions that are less favorable to an insured than the dollar limits, copayments, deduct…

Sec. 1. (a) This section does not apply to a health maintenance organization or a limited service health maintenance organization that is a foreign corporation. (b) As used in this section, "foreign corporation" means a corporation organized or reorganized under the law of a stat…

Sec. 1. As used in this chapter, "actuary" means a person who is a member in good standing of the American Academy of Actuaries. As added by P.L.1-1992, SEC.148.

Sec. 10. (a) If the commissioner determines that the MGA 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: (1) the commissioner may order: (A) for each separate violation, a…

Sec. 11. The commissioner may adopt reasonable rules under IC 4-22-2 for the implementation and administration of this chapter. As added by P.L.1-1992, SEC.148.

Sec. 2. As used in this chapter, "commissioner" refers to the insurance commissioner appointed under IC 27-1-1-2. As added by P.L.1-1992, SEC.148.

Sec. 3. As used in this chapter, "insurer" means any person, firm, association, or corporation duly authorized to act in Indiana as an insurance company pursuant to IC 27-1. As added by P.L.1-1992, SEC.148.

Sec. 4. (a) As used in this chapter, "managing general agent" or "MGA" means any person, firm, association, or corporation: (1) that manages all or part of the insurance business of an insurer (including the management of a separate division, department, or underwriting office); …

Sec. 5. As used in this chapter, "underwrite" means the authority to accept or reject risk on behalf of the insurer. As added by P.L.1-1992, SEC.148.

Sec. 6. (a) A person, a firm, an association, or a corporation may not act in the capacity of an MGA with respect to risks located in Indiana for an insurer licensed in Indiana unless that person is a licensed producer in Indiana. (b) A person, a firm, an association, or a corpor…

Sec. 7. A person, a firm, an association, or a corporation acting in the capacity of an MGA may not place business with an insurer unless there is in force a written contract between the parties. A contract required by this section must set forth the responsibilities of each part…

Sec. 8. (a) An insurer shall have on file an independent financial examination, in a form acceptable to the commissioner, of each MGA with which it has done business. (b) If an MGA establishes loss reserves, the insurer shall annually obtain the opinion of an actuary attesting to…

Sec. 9. The acts of the MGA are considered to be the acts of the insurer on whose behalf the MGA is acting. An MGA may be examined as if it were the insurer. As added by P.L.1-1992, SEC.148.

Sec. 1. As used in this chapter, "abortion" has the meaning set forth in IC 16-18-2-1. As added by P.L.193-2011, SEC.16. Amended by P.L.179-2022(ss), SEC.45.

Sec. 2. As used in this chapter, "federal Patient Protection and Affordable Care Act" includes amendments made by the federal Health Care and Education Reconciliation Act of 2010 (P.L. 111-152). As added by P.L.193-2011, SEC.16.

Sec. 3. As used in this chapter, "qualified health plan" has the meaning set forth in Section 1301 of the federal Patient Protection and Affordable Care Act (P.L. 111-148). As added by P.L.193-2011, SEC.16.

Sec. 4. A qualified health plan offered under Subtitle D of Title 1 of the federal Patient Protection and Affordable Care Act may not provide coverage for abortion, except when an abortion is permitted under IC 16-34-2-1. As added by P.L.193-2011, SEC.16. Amended by P.L.179-2022(…

Sec. 1. Health maintenance organizations may adopt a coordination of benefits provision to: (1) avoid overinsurance; and (2) provide for the orderly payment of a claim when a person is covered by two (2) or more group health insurance or health care plans. As added by P.L.26-1994…

Sec. 2. If a health maintenance organization adopts a coordination of benefits provision, the provision must be consistent with the coordination of benefits provisions of 760 IAC 1-38.1. As added by P.L.26-1994, SEC.25. Amended by P.L.124-2018, SEC.95.

Sec. 1. (a) As used in this chapter, "arrangement" refers to a multiple employer welfare arrangement. (b) As used in this chapter, "multiple employer welfare arrangement" means an entity other than a duly admitted insurer that establishes an employee benefit plan for the purpose …

Sec. 1.5. A multiple employer welfare arrangement may be established through an interlocal cooperation agreement under IC 36-1-7. As added by P.L.130-2020, SEC.9.

Sec. 10. This chapter does not apply to a multiple employer welfare arrangement which offers or provides benefits which are fully insured by an authorized insurer or to an arrangement which is exempt under the federal Employee Retirement Income Security Act (29 U.S.C. 1001 et seq…