reglab/housing_qa huggingface dataset:
IN Code § 27-1-12.8-37 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 12.8. Standard Valuation Law|27-1-12.8-37. Confidential Information

Sec. 37. (a) Except as provided in this section and section 38 of this chapter, a company's confidential information is:(1) confidential by law and privileged;(2) not subject to subpoena; and(3) not subject to discovery or admissible in evidence in a private civil action.However, the commissioner may use confidential information in the furtherance of a regulatory or legal action brought against the company as a part of the commissioner's duties.(b) The commissioner, or a person receiving confidential information while acting under the authority of the commissioner, is not permitted or required to testify in a private civil action concerning confidential information.(c) The commissioner may disclose confidential information to:(1) other state, federal, and international regulatory agencies;(2) the NAIC and affiliates and subsidiaries of the NAIC;(3) only in the case of confidential information specified in section 5(1) and 5(4) of this chapter, the Actuarial Board for Counseling and Discipline upon request stating that the confidential information is required for professional disciplinary proceedings; and(4) state, federal, and international law enforcement authorities;if the recipient agrees, and has the legal authority to agree, to maintain the confidential and privileged status of the confidential information in the same manner and to the same extent as required for the commissioner.(d) The commissioner:(1) may receive confidential information, including privileged confidential information, from:(A) other state, federal, and international regulatory agencies;(B) the NAIC and affiliates and subsidiaries of the NAIC;(C) the Actuarial Board for Counseling and Discipline; and(D) other state, federal, and international law enforcement authorities; and(2) shall maintain as confidential or privileged all confidential information received with notice or the understanding that the confidential information is confidential or privileged under the law of the jurisdiction that is the source of the confidential information.(e) The commissioner may enter into agreements governing sharing and use of information consistent with this section.(f) Any applicable privilege or claim of confidentiality in confidential information described in this section is not waived as a result of the disclosure or receipt of the confidential information by the commissioner under this section.(g) A privilege established under the law of any state or jurisdiction that is substantially similar to the privilege established under this section is available and must be enforced in a proceeding in and by any court of this state.(h) For purposes of this section, "regulatory agency", "law enforcement agency", and "NAIC" include employees, agents, consultants, and contractors of a regulatory agency, law enforcement agency, and NAIC.As added by P.L.276-2013, SEC.10. Amended by P.L.124-2018, SEC.29.
IN Code § 27-1-12.8-38 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 12.8. Standard Valuation Law|27-1-12.8-38. Confidential Information; Release

Sec. 38. The following apply to confidential information specified in section 5(1) and 5(4) of this chapter:(1) The confidential information may be subject to subpoena to defend an action seeking damages from the appointed actuary submitting the supporting memorandum submitted under sections 21 through 23 of this chapter or principle based valuation report developed under section 35(c)(3) of this chapter due to a requirement of this chapter.(2) The confidential information may be released by the commissioner with the written consent of the company.(3) If a part of a supporting memorandum submitted under sections 21 through 23 of this chapter or a principle based valuation report developed under section 35(c)(3) of this chapter is:(A) cited by a company in the company's marketing;(B) publicly volunteered to or before a governmental agency other than a state insurance department; or(C) released by the company to the news media;all parts of the supporting memorandum or report are not confidential.As added by P.L.276-2013, SEC.10.
IN Code § 27-1-12.8-39 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 12.8. Standard Valuation Law|27-1-12.8-39. Exemptions of Certain Products From Requirements

Sec. 39. (a) The commissioner may exempt specific product forms or product lines of a domestic company that is licensed and doing business only in Indiana from the requirements of section 34 of this chapter if:(1) the commissioner has issued an exemption in writing to the company and has not subsequently revoked the exemption in writing; and(2) the company computes reserves using assumptions and methods used before the operative date of the valuation manual in addition to requirements established by the commissioner in rules adopted under IC 4-22-2.(b) With respect to a company granted an exemption under this section, sections 21 through 33 of this chapter apply. With respect to a company applying the exemption under this section, a reference to section 34 of this chapter in sections 21 through 33 of this chapter does not apply.As added by P.L.276-2013, SEC.10.
IN Code § 27-1-12.8-40 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 12.8. Standard Valuation Law|27-1-12.8-40. Conflict of Laws; Application of Chapter

Sec. 40. (a) If a provision of law is inconsistent with this chapter, this chapter prevails.(b) Except as otherwise provided in this chapter, this chapter applies to valuations performed after June 30, 2013.(c) Except as otherwise provided in this chapter, IC 27-1-12-9 and IC 27-1-12-10 (before their repeal) apply to valuations performed before July 1, 2013.As added by P.L.276-2013, SEC.10.
IN Code § 27-1-13-0.1 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 13. Casualty, Fire, and Marine Insurance Company Powers and Policy Requirements|27-1-13-0.1. Application of Certain Amendments to Chapter

Sec. 0.1. The amendments made to section 3.5 of this chapter by P.L.88-2000 apply to financial statements filed by an insurer after December 31, 1999.As added by P.L.220-2011, SEC.423.
IN Code § 27-1-13-1 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 13. Casualty, Fire, and Marine Insurance Company Powers and Policy Requirements|27-1-13-1. Particular Rights, Privileges, and Powers of Casualty, Fire, or Marine Insurers; Exceptions

Sec. 1. In addition to the general rights, privileges, and powers conferred by IC 27-1-5 through IC 27-1-13 and IC 27-11 and subject to the limitations and restrictions contained in this article and in the articles of incorporation, every casualty, fire, or marine insurance company shall possess and may exercise the rights, privileges, and powers enumerated in this chapter, except that such powers shall not be intended or interpreted to mean that a company organized under either class as set out and defined in IC 27-1-5-1 shall make any kind or kinds of insurance as set out and defined in any other class of IC 27-1-5-1 other than as expressly provided in such classification.Formerly: Acts 1935, c.162, s.170. As amended by P.L.252-1985, SEC.67; P.L.3-1990, SEC.97.
IN Code § 27-1-13-3.5 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 13. Casualty, Fire, and Marine Insurance Company Powers and Policy Requirements|27-1-13-3.5. Intangible Assets Attributable to Investment in Subsidiary; Amount as Percentage of Capital and Surplus

Sec. 3.5. (a) Except as provided by subsection (b), goodwill, trade names, and other like intangible assets attributable to any investment in a subsidiary shall be admitted as assets except:(1) to the extent that the aggregate amount thereof exceeds ten percent (10%) of the capital and surplus of the insurer as reported in its latest annual report filed with the commissioner;(2) to the extent that any such asset is not being amortized ratably over a period of ten (10) years or less from the date of acquisition; and(3) in determining the financial condition or solvency of an insurer under IC 27-9.(b) The commissioner may increase the ten percent (10%) limitation in subsection (a)(1) to an amount not to exceed twenty percent (20%) of the capital and surplus of the insurer as reported in its latest annual statement filed with the commissioner if:(1) the assets of the insurer include good will, trade names, and other like intangible assets that are attributable to the acquisition after December 31, 1998, of an insurance company or health maintenance organization authorized to do business under the laws of any state; and(2) as of the date of the initial request for an increase in the ten percent (10%) limitation in subsection (a)(1) the total adjusted capital of the insurer is at least four hundred percent (400%) of the authorized control level risk based capital of the insurer as reported in the latest annual report filed with the commissioner.(c) The commissioner may retain experts to assist with a request made under subsection (b). The insurer shall pay all costs for the experts.As added by P.L.160-1986, SEC.2. Amended by P.L.88-2000, SEC.1.
IN Code § 27-1-13-4 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 13. Casualty, Fire, and Marine Insurance Company Powers and Policy Requirements|27-1-13-4. Valuation of Bonds and Securities

Sec. 4. (a) All bonds or other evidences of debt having a fixed term and rate of interest held by an insurer may, if amply secured and not in default as to principal or interest, be valued as follows: If purchased at par, at the par value; if purchased above or below par, on the basis of the purchase price adjusted so as to bring the value to par at maturity and so as to yield in the meantime the effective rate of interest at which the purchase was made, or, instead of this method, according to an accepted method of valuation as is approved by the department. The purchase price shall in no case be taken at a higher figure than the actual market value at the time of purchase, plus actual brokerage, transfer, postage, or express charges paid in the acquisition of the securities. The department shall have full discretion in determining the method of calculating values according to the rules set forth in this subsection. However, no such method or valuation under this subsection may be inconsistent with any applicable method or valuation used by insurers in general or the method specified in the Accounting Practices and Procedures Manual.(b) Securities held by an insurer, other than those referred to in subsection (a), shall be valued, in the discretion of the department, at their market value or at their appraised value or at prices determined by the department as representing the fair market value of the securities. Preferred or guaranteed stocks or shares, while paying full dividends, may be carried at a fixed value in lieu of market value at the discretion of the department and in accordance with the method of valuation that the department approves. No valuation under this subsection may be inconsistent with the applicable valuation or method specified in the Accounting Practices and Procedures Manual.Formerly: Acts 1935, c.162, s.172a. As amended by P.L.130-1994, SEC.20; P.L.116-1994, SEC.27; P.L.124-2018, SEC.31.
IN Code § 27-1-13-5 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 13. Casualty, Fire, and Marine Insurance Company Powers and Policy Requirements|27-1-13-5. Insured Loans and Investments

Sec. 5. (a) Subject to such rules as the department finds to be necessary and proper, any insurance company other than one organized as a life insurance company organized under the provisions of this article or any other law of this state and authorized to make any or all of the kinds of insurance described in Class 2 or Class 3 of IC 27-1-5-1 shall have the following powers:(1) To make such loans and advances of credit and purchase of obligations representing loans and advances of credit as are eligible for insurance by the federal housing administrator, and to obtain such insurance.(2) To make such loans secured by mortgages on real property or leasehold, as the federal housing administrator insures or makes a commitment to insure, and to obtain such insurance.(3) To purchase, invest its capital and other funds in, and dispose of, notes or bonds secured by deed of trusts or mortgage insured by the federal housing administrator or debentures issued by the federal housing administrator, or bonds or other securities issued by national mortgage associations.(b) No law of this state prescribing the nature, amount, or form of security or requiring security upon which loans or advances of credits may be made, or prescribing or limiting interest rates upon loans or advances of credit, or prescribing or limiting the period for which loans or advances of credit may be made shall be deemed to apply to loans, advances of credit, or purchases made pursuant to subsections (a)(1) and (a)(2).(c) Any rule made and promulgated under and pursuant to this section may apply to one (1) or more of the insurance companies to which this section is applicable.Formerly: Acts 1935, c.162, s.173; Acts 1937, c.288, s.4. As amended by P.L.252-1985, SEC.68.
IN Code § 27-1-13-7.5 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 13. Casualty, Fire, and Marine Insurance Company Powers and Policy Requirements|27-1-13-7.5. Newly Acquired Motor Vehicle; Required Coverage

Sec. 7.5. (a) As used in this section, "motor vehicle insurance" means any type of insurance described in IC 27-1-5-1, Class 2(f).(b) As used in this section, "newly acquired motor vehicle" means one (1) of the following types of vehicles of which an individual who is insured under a personal lines motor vehicle insurance policy becomes the owner during the policy period:(1) A private passenger motor vehicle.(2) A pickup truck or van for which no other insurance policy provides coverage.(c) If the insured notifies the insurer of the newly acquired motor vehicle within the periods specified in subdivisions (1) and (2), an insurer that issues a motor vehicle insurance policy shall provide at least:(1) fourteen (14) days of liability coverage; and(2) if the motor vehicle insurance policy provides physical damage coverage, four (4) days of physical damage coverage that is subject to a deductible of not more than five hundred dollars ($500);for a newly acquired motor vehicle under the motor vehicle insurance policy, effective on the date the insured becomes the owner.As added by P.L.276-2013, SEC.11.
IN Code § 27-1-13-8 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 13. Casualty, Fire, and Marine Insurance Company Powers and Policy Requirements|27-1-13-8. Estimating Condition; Classification of Items as Assets or Liabilities; Reserves

Sec. 8. In estimating the condition of any company which makes insurance comprised within class 2 or class 3 of IC 27-1-5-1, the department shall allow only such investments as assets as are authorized by the laws of this state at the date of the investigation, but unpaid premiums on policies or renewals written within three (3) months shall be admitted as available resources. It shall charge as liabilities in addition to all other outstanding indebtedness of the company the capital stock, if any, and the following:(a) The premium reserve on policies in force equal to fifty percent (50%) of the gross premiums charged for covering risks, less the reserve computed by the same method, on reinsurance in force. However, the department may, in its discretion, charge a premium reserve equal to the unearned portions of the gross premium charged by computing on each respective risk from the date of the issuance of the policy, less the reserve, computed by the same method, on reinsurance in force.(b) In the case of policies of marine or inland navigation or transportation insurance it shall charge as a liability fifty percent (50%) of the amount of the premiums written in such policies upon yearly risks and upon risks covering not more than one (1) passage not terminated and the full amount of premiums written in policies upon all other such risks not terminated.(c) The reserve for outstanding losses at least equal to the aggregate estimated amounts due or to become due on account of all losses or claims of which the company has received notice. However, the loss reserve shall also include the estimated liability on any notices received by the company of the occurrence of any event which may result in a loss and the estimated liability for all losses which have occurred but on which no notice has been received. For the purpose of such reserves, the company shall keep a complete and itemized record showing all losses and claims on which it has received notice, including all notices received by it of the occurrence of any event which may result in a loss.(d) Any other reserves as are required by or provided for in the applicable Annual Statement Blanks furnished to companies under IC 27-1-3-13.(e) Whenever, in the judgment of the department, the loss reserves calculated in accordance with subsections (a), (b), (c), and (d) are inadequate, it may in its discretion require a company to maintain additional reserves.Formerly: Acts 1935, c.162, s.179. As amended by P.L.260-1983, SEC.7; P.L.124-2018, SEC.32.
IN Code § 27-1-13-8.5 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 13. Casualty, Fire, and Marine Insurance Company Powers and Policy Requirements|27-1-13-8.5. Rules to Prescribe Minimum Standards for Establishment of Reserves

Sec. 8.5. The department shall adopt rules under IC 4-22-2 to prescribe minimum standards for the establishment of reserves as required by the Accounting Practices and Procedures Manual for insurers writing Class 2 and Class 3 lines of business.As added by P.L.130-1994, SEC.21 and P.L.116-1994, SEC.28. Amended by P.L.124-2018, SEC.33.
IN Code § 27-1-13-9 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 13. Casualty, Fire, and Marine Insurance Company Powers and Policy Requirements|27-1-13-9. Trading or Dealing in Commodities, Goods, Wares, and Merchandise

Sec. 9. No company shall directly or indirectly deal or trade in buying or selling goods, wares, merchandise or other commodities, except such as may have been insured by it and such as may be sold under judicial process or otherwise, in which, or in the profits of the sale of which, it may be interested by reason of having previously become insurers of the same or of some share or portion thereof.Formerly: Acts 1935, c.162, s.180.
IN Code § 27-1-13-10 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 13. Casualty, Fire, and Marine Insurance Company Powers and Policy Requirements|27-1-13-10. Insurance Rating Bureaus; Organizational Regulations

Sec. 10. Any insurance rating bureau which files any rating plan, manual, classifications, rules or rates for fire, marine or inland marine and allied risks insurance with the insurance department of the state of Indiana for its members or subscribers shall as a condition precedent to the filing of an application to act as a rating bureau in the state of Indiana, establish in its constitution or by-laws the right of domestic insurers organized and operating under the laws of the state of Indiana, who are members of such rating bureau, to have representation on the board of directors, board of governors or any other governing body whatsoever, controlling said rating bureau, in an amount of not less than thirty-three and one-third percent (33 1/3%) of all of the voting members of such governing body. The constitution and by-laws of said rating bureau shall also contain the condition that all meetings of the governing body of said rating bureau shall be held either in Chicago, Illinois or in Indianapolis, Indiana. However, this section does not limit the representation of such domestic insurers on said governing body. Indiana representatives on such governing body shall be nominated by special meeting of the Indiana members of such rating bureau at least ten (10) days preceding the election of representatives on the governing body of such rating bureau. The insurance commissioner of the state of Indiana shall have no right to approve any such rating bureau as a rating bureau in the state of Indiana until the aforesaid conditions are met by such bureau.Formerly: Acts 1935, c.162, s.180a; Acts 1947, c.269, s.1. As amended by P.L.136-2018, SEC.161.
IN Code § 27-1-13-11 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 13. Casualty, Fire, and Marine Insurance Company Powers and Policy Requirements|27-1-13-11. Insurance Rating Bureaus; Meetings; Appearance by Aggrieved Persons

Sec. 11. At all such meetings of the governing body held at Indianapolis, Indiana, as set out in section 10 of this chapter, any aggrieved policyholder, insurance producer, company, representative, or any other aggrieved person may appear before such meeting to have complaints heard in full, and it shall be the duty of such rating bureau to rectify such conditions as are justly complained of in such manner as is reasonably possible.Formerly: Acts 1935, c.162, s.180b; Acts 1947, c.269, s.2. As amended by P.L.252-1985, SEC.69; P.L.178-2003, SEC.19.
IN Code § 27-1-13-12 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 13. Casualty, Fire, and Marine Insurance Company Powers and Policy Requirements|27-1-13-12. Insurance Rating Bureau; Division of Representation

Sec. 12. The representation of Indiana insurors on such governing body of such rating bureau described in section 10 of this chapter shall be equally divided as between domestic stock and mutual insurors, and the number of members on such governing body of such rating bureau shall be fixed so this can be accomplished.Formerly: Acts 1935, c.162, s.180c; Acts 1947, c.269, s.3. As amended by P.L.252-1985, SEC.70.
IN Code § 27-1-13-14 (2021)
2021 Indiana Code|Title 27. Insurance|Article 1. Department of Insurance|Chapter 13. Casualty, Fire, and Marine Insurance Company Powers and Policy Requirements|27-1-13-14. Casualty and Liability Insurance; Qualified Public Transportation Agency; Group Coverage for Functions

Sec. 14. (a) As used in this section:"Casualty and liability insurance" means insurance included in Class II and Class III of IC 27-1-5-1."Qualified public transportation agency" means any of the following:(1) A public transportation corporation established under IC 36-9-4.(2) An agency of a city that provides for public transportation.(3) An agency of a town that provides for public transportation.(4) An agency of a township that provides for public transportation.(5) Any person who provides public transportation to a county under an agreement with the county.(b) A company authorized to issue casualty and liability insurance policies in Indiana may sell group casualty and liability insurance to two (2) or more qualified public transportation agencies only for the purpose of insuring their public transportation functions.As added by P.L.256-1983, SEC.1.