reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 22. Regulation of Insurance Rates › 27-1-22-14. Regulation of Organization of Insurers Engaging in Joint Underwriting or Joint Reinsurance; Unfair or Unreasonable Practices

Sec. 14. (a) Every group, association, or other organization of insurers which engages in joint underwriting or joint reinsurance shall be subject to regulation with respect thereto as provided in this chapter, subject, however, with respect to joint underwriting, to all other provisions of this chapter and with respect to joint reinsurance, to section 15 of this chapter.
(b) If, after a hearing, the commissioner finds that any activity or practice of any such group, association, or other organization is unfair or unreasonable or otherwise inconsistent with the provisions of this chapter, he may issue a written order specifying in what respects such activity or practice is unfair or unreasonable or otherwise inconsistent with the provisions of this chapter and requiring the discontinuance of such activity or practice.
Formerly: Acts 1967, c.133, s.14. As amended by P.L.252-1985, SEC.117.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 22. Regulation of Insurance Rates › 27-1-22-15. Examination of Licensed Rating Organization; Report of Examination in Another State; Cost of Examination

Sec. 15. (a) The commissioner shall, at least once every three (3) years, make or cause to be made an examination of each licensed rating organization, and may, as often as he may deem it expedient, make or cause to be made an examination of each advisory organization and of each group, association, or other organization of insurers which engages in joint underwriting or joint reinsurance pursuant to section 13 of this chapter to ascertain whether such rating or advisory organization or group, association or other organization complies with the applicable provisions of this chapter. In lieu of any such examination the commissioner may accept the report of an examination made by the insurance supervisory official of another state.
(b) The officers, managers, agents, and employees of any such organization, group or association may be examined at any time under oath and shall exhibit all books, records, accounts, documents, or agreements governing its method of operation, together with all data, statistics and information of every kind and character collected or considered by such organization, group or association in the conduct of the operations to which such examination relates.
(c) The reasonable cost of any examination authorized by this chapter shall be paid by the organization, group, or association examined, upon presentation to it of a detailed account of such cost.
(d) No report of examination shall be made public until the organization examined has an opportunity to review the proposed report and to have a hearing with reference thereto, after which hearing the report shall be filed for public inspection and become admissible in evidence as a public record.
Formerly: Acts 1967, c.133, s.15. As amended by P.L.252-1985, SEC.118.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 22. Regulation of Insurance Rates › 27-1-22-16. Approval of Rules and Statistical Plans; Exchange of Information and Experience Data

Sec. 16. a. The commissioner shall approve reasonable rules and statistical plans, reasonably adapted to each of the rating systems on file with him, which may be modified from time to time and which shall be used thereafter by each insurer in the recording and reporting of its loss and countrywide expense experience, in order that the experience of all insurers may be made available at least annually. Such rules and plans may also provide for the recording and reporting of expense experience items which are specially applicable to this state and are not susceptible of determination by a prorating of countrywide expense experience. In approving such rules and plans, the commissioner shall give due consideration to the rating systems on file with him and, in order that such rules and plans may be as uniform as is practicable among the several states, to the rules and to the form of the plans used for such rating systems in other states. No insurer shall be required to record or report its loss experience on a classification basis that is inconsistent with the rating system filed by it. The commissioner may designate rating organizations or other agencies, or both, to assist him in gathering such experience and making compilations thereof, and such compilations shall be made available, subject to reasonable rules approved by the commissioner to insurers and advisory and rating organizations.
b. In order to further uniform administration of the regulatory laws, the commissioner and every insurer, rating organization, advisory organization or statistical agency may exchange information and experience data with insurance supervisory officials, insurers, rating organizations, advisory organizations or statistical agencies in this and other states and may consult with them with respect to rate making and the application of rating systems.
c. The commissioner may make reasonable rules and regulations necessary to effect the purposes of this section.
Formerly: Acts 1967, c.133, s.16.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 22. Regulation of Insurance Rates › 27-1-22-17. Withholding Information; Giving False or Misleading Information

Sec. 17. No person may knowingly withhold information from, or knowingly give false or misleading information to, the commissioner or the department, to any statistical agency designated by the department, to any rating organization, or to any insurer, which will affect the rates or premiums chargeable under this article.
Formerly: Acts 1967, c.133, s.17. As amended by Acts 1978, P.L.2, SEC.2714.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 22. Regulation of Insurance Rates › 27-1-22-18. Deviation From Authorized Premium Charge; Discounts and Rebates as Inducement to Insure; Commissions for Insurance Producers

Sec. 18. (a) This section does not prohibit activities allowed under IC 27-1-47.
(b) No insurer, broker, or insurance producer shall knowingly charge, demand, or receive a premium for any policy of insurance except in accordance with the provisions of this chapter. No insurer or employee thereof, and no broker or insurance producer shall pay, allow, or give, directly or indirectly, as an inducement to insurance, or after insurance has been effected, any rebate, discount, abatement, credit, or reduction of the premium named in a policy of insurance, or any special favor or advantage in the dividends or other benefits to accrue thereon, or any valuable consideration or inducement whatever, not specified in the policy of insurance, except to the extent provided for in applicable filings. No insured named in any policy of insurance shall knowingly receive or accept, directly or indirectly, any such rebate, discount, abatement, credit or reduction of premium, or any such special favor or advantage or valuable consideration or inducement. Nothing in this section shall be construed as prohibiting the payment of, nor permitting the regulation of the payment of, commissions or other compensation to duly licensed insurance producers and brokers, nor as prohibiting, or permitting the regulation of, any insurer from allowing or returning to its participating policyholders or members, dividends or savings.
Formerly: Acts 1967, c.133, s.18. As amended by P.L.252-1985, SEC.119; P.L.178-2003, SEC.25; P.L.196-2021, SEC.21.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 22. Regulation of Insurance Rates › 27-1-22-19. Freedom of Contract With Reference to Commissions

Sec. 19. Nothing in this chapter abridges or restricts the freedom of contract of insurers, insurance producers, or brokers with reference to the amount of commission to be paid to insurance producers or brokers by insurers, and such payments are expressly authorized.
Formerly: Acts 1967, c.133, s.19. As amended by P.L.252-1985, SEC.120; P.L.178-2003, SEC.26.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 22. Regulation of Insurance Rates › 27-1-22-20. High Risk Auto Insurance; Apportionment Agreements; Rate Modifications

Sec. 20. Agreements may be made among insurers with respect to the equitable apportionment among them of:
(1) automobile;
(2) bodily injury liability; and
(3) property damage;
insurance which may be afforded applicants who are in good faith entitled to but who are unable to procure such insurance through ordinary methods. The insurers may agree among themselves on the use of reasonable rate modifications for the insurance, and the agreements and rate modifications are subject to the terms of this chapter.
Formerly: Acts 1967, c.133, s.20. As amended by P.L.252-1985, SEC.121; P.L.59-2022, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 22. Regulation of Insurance Rates › 27-1-22-20.1. Foster Youth Auto Insurance Availability; List of Insurers; Payment of Costs of Auto Insurance

Sec. 20.1. (a) For purposes of this section, an individual is a "foster youth" if:
(1) the department of child services; or
(2) a designee of the department of child services;
certifies or acknowledges that the individual is a foster youth (as defined by IC 31-26-4.5-2).
(b) The department of child services established by IC 31-25-1-1 shall make available to foster youths and to the public a list, provided by the Insurance Institute of Indiana, identifying insurers that may provide automobile insurance coverage outside the plan described in subsection (c) for a minor without a guardian cosigner. The list of insurers shall be reviewed annually.
(c) An assigned risk automobile insurance plan established by insurers under section 20 of this chapter must, subject to the rules of the plan, make automobile insurance available to a foster youth who:
(1) is at least sixteen (16) years of age and not more than twenty-three (23) years of age; and
(2) is receiving services from the department of child services.
(d) An applicant who is a foster youth is responsible for paying all costs of a policy of automobile insurance issued under subsection (c). A state or local government agency, foster parent, or entity providing services to an applicant under a contract or at the direction of a state or local government agency shall not be required to pay any costs associated with a policy of automobile insurance issued under subsection (c) and shall not be liable for any damages that result from the foster youth's operation of an automobile owned and insured by the foster youth.
As added by P.L.97-2023, SEC.9.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 22. Regulation of Insurance Rates › 27-1-22-22. Appointment and Removal of Additional Personnel; Powers of Deputy Conducting Hearings; Exemption From Personal Liability

Sec. 22. (a) For the purpose of maintaining the affirmative, active, and definite administration of the provisions of this chapter, the commissioner, with the approval of the governor, may appoint such additional actuaries, deputies, examiners, assistants, and other employees in the department as may be found necessary to carry out the provisions of this chapter. Except as otherwise provided in this chapter, such additional deputies, examiners, assistants, and employees so appointed shall be chosen for their fitness, either professional or practical, as the nature of the position may require, irrespective of their political beliefs or affiliations. The technical or professional qualifications of any applicant shall be determined by examination, professional rating or otherwise, as the commissioner with the approval of the governor may determine. Subject to the approval of the governor and the state budget director, the salaries of such additional actuaries, deputies, examiners, assistants, and other employees shall be fixed by the commissioner. Any actuary, deputy, examiner, assistant, or employee so employed may be removed at any time by the commissioner.
(b) In the absence of the commissioner, he may, by written order, designate a deputy to conduct any hearing, and, in such case, such deputy commissioner shall possess and may exercise any and all powers of the commissioner with respect to the matter in hearing.
(c) Neither the commissioner nor any actuary, deputy, examiner, assistant, or employee in the department shall be liable in their individual capacity, except to the state of Indiana, for any act done or omitted in connection with the performance of their respective duties under the provisions of this chapter.
Formerly: Acts 1967, c.133, s.22. As amended by P.L.252-1985, SEC.123.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 22. Regulation of Insurance Rates › 27-1-22-23. Exemption of Rates and Classifications From Law Governing Rules and Regulations

Sec. 23. No provision of IC 4-22-2 shall be construed to apply to rates or classifications made pursuant to the provisions of this chapter and approved by the commissioner or department.
Formerly: Acts 1967, c.133, s.23. As amended by P.L.252-1985, SEC.124.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 22. Regulation of Insurance Rates › 27-1-22-24. Suspension or Revocation of Licenses

Sec. 24. (a) The commissioner may suspend the license of any rating organization or insurer which fails to comply with an order of the commissioner or department within the time limited by such order, or any extension thereof which the commissioner may grant. The commissioner shall not suspend the license of any rating organization or insurer for failure to comply with an order until the time prescribed for an appeal therefrom has expired or if an appeal has been taken, until such order has been affirmed. The commissioner may determine when a suspension of license shall become effective and it shall remain in effect for the period fixed by him, unless he modifies or rescinds such suspension, or until the order upon which such suspension is based is modified, rescinded or reversed. No license shall be suspended or revoked except upon a written order of the commissioner, stating his findings, made after a hearing is held upon not less than fifteen (15) days' written notice to the person specifying the alleged violation.
(b) A person who violates this chapter commits a Class A misdemeanor.
Formerly: Acts 1967, c.133, s.24. As amended by Acts 1978, P.L.2, SEC.2715.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 22. Regulation of Insurance Rates › 27-1-22-25. Motor Vehicle Insurance; Rating Plan Establishing Higher Rates for Bankruptcy Petitioners; Violations

Sec. 25. (a) This section only applies to a policyholder or an applicant who is an individual.
(b) As used in this section, "motor vehicle insurance" means any type of insurance described in IC 27-1-5-1, Class 2(f).
(c) A motor vehicle insurance rating plan filed under section 4 of this chapter may not establish a higher rate for a policyholder based on the fact that the policyholder has filed a voluntary petition under the federal bankruptcy law (11 U.S.C. 101 et seq.).
(d) The premium rate for an individual policy of motor vehicle insurance may not be set higher than the applicable rate set forth in the rating plan in effect under this chapter based on the fact that the policyholder or applicant has filed a voluntary petition under the federal bankruptcy law.
(e) The violation of this section is an unfair and deceptive act or practice in the business of insurance under IC 27-4-1-4.
As added by P.L.122-1992, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 22. Regulation of Insurance Rates › 27-1-22-26. Motor Vehicle Insurance; Rating Plan Establishing Higher Rates for Persons in Armed Forces; Violations

Sec. 26. (a) As used in this section, "armed forces" means the following:
(1) The Army.
(2) The Navy.
(3) The Air Force.
(4) The Marine Corps.
(5) The Coast Guard.
(b) This section applies only to an individual:
(1) who is applying for motor vehicle insurance; and
(2) who:
(A) is serving in one (1) of the armed forces; or
(B) has served in one (1) of the armed forces within six (6) months before applying for motor vehicle insurance.
(c) As used in this section, "motor vehicle insurance" means any type of insurance described in IC 27-1-5-1, Class 2(f).
(d) As used in this chapter, "rating plan" means the rating schedule or rating plan of an insurer concerning premium rates for motor vehicle insurance that has been filed with the commissioner and is in effect under section 4 of this chapter.
(e) An insurer may not set the premium rate for a policy of motor vehicle insurance for an individual described in subsection (b) at an amount higher than the applicable rate set forth in the rating plan due to the fact that the individual has not been covered by motor vehicle insurance for a period of time.
(f) The violation of this section is an unfair and deceptive act or practice in the business of insurance under IC 27-4-1-4.
As added by P.L.223-1993, SEC.5.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 22. Regulation of Insurance Rates › 27-1-22-26.1. Motor Vehicle Insurance; Rating Plan for Active and Reserve Members of Armed Forces; Violation

Sec. 26.1. (a) As used in this section, "armed forces" means the active and reserve components of the following:
(1) The United States Army.
(2) The United States Navy.
(3) The United States Air Force.
(4) The United States Marine Corps.
(5) The United States Coast Guard.
(6) The Indiana National Guard.
(b) As used in this section, "motor vehicle insurance" means any type of insurance described in IC 27-1-5-1, Class 2(f).
(c) As used in this chapter, "rating plan" means the rating schedule or rating plan of an insurer:
(1) concerning premium rates for motor vehicle insurance;
(2) that has been filed with the commissioner; and
(3) that is in effect under section 4 of this chapter.
(d) An insurer that issues or renews a policy of motor vehicle insurance may not set the premium rate for a policy of motor vehicle insurance that covers an individual who is serving in one (1) of the armed forces at an amount higher than the applicable rate set forth in the rating plan for a policy of motor vehicle insurance that covers an individual who is not serving in one (1) of the armed forces.
(e) A violation of this section is an unfair and deceptive act or practice in the business of insurance under IC 27-4-1-4.
As added by P.L.39-2005, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 22. Regulation of Insurance Rates › 27-1-22-27. Motor Vehicle Insurance; Rates for Innocent Prior-Uninsured Motorists

Sec. 27. (a) The purpose of this section is to preclude insurers from charging higher rates for innocent prior-uninsured motorists who have not operated a motor vehicle in violation of any financial responsibility or compulsory insurance requirement within the prior twelve months.
(b) As used in this section, "motor vehicle insurance" means any type of insurance described in IC 27-1-5-1, Class 2(f).
(c) A motor vehicle insurer may not discriminate in establishing a rate for a policyholder or applicant, based solely on the absence of insurance by the applicant or policyholder.
(d) This section does not apply to applicants who first received their driver's license within the past thirty-six (36) month period.
(e) A violation of this section is an unfair and deceptive act or practice in the business of insurance under IC 27-4-1-4.
As added by P.L.169-1999, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 23. Regulation of Insurance Holding Company Systems › 27-1-23-1.5. Dividend Payments; Notice; Content

Sec. 1.5. (a) A domestic insurer that is a member of an insurance holding company system may not pay a dividend unless the insurer notifies the department of the dividend and the department receives the notice from the insurer:
(1) not more than five (5) business days after the declaration of the dividend or distribution; and
(2) at least ten (10) days before the payment of the dividend or distribution.
(b) A notice provided by an insurer under subsection (a) must contain information indicating that the surplus of the insurer as regards policyholders will be:
(1) reasonable in relation to the outstanding liabilities of the insurer; and
(2) adequate to the financial needs of the insurer;
following the payment of the dividend.
(c) After receiving a notice from an insurer under this section, the department shall promptly consider the information set forth in the notice under subsection (b). In the department's consideration of the information, the department shall apply the factors set forth in section 4(f) of this chapter.
As added by P.L.130-1994, SEC.29 and P.L.116-1994, SEC.39.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 23. Regulation of Insurance Holding Company Systems › 27-1-23-5.1. Supervisory College

Sec. 5.1. (a) The commissioner may participate in a supervisory college for a domestic insurer that is part of an insurance holding company system that has international operations, and any affiliate of the insurer, to do the following:
(1) Determine whether the insurer or affiliate is in compliance with this chapter.
(2) Assess the business strategy, financial position, legal and regulatory position, risk exposure, risk management, and governance processes that apply to the insurer or affiliate.
(3) Examine the insurer or affiliate.
(b) The powers of the commissioner under subsection (a) include the following:
(1) Initiation of the establishment of the supervisory college.
(2) Clarification of the membership and participation of other supervisors in the supervisory college.
(3) Clarification of the functions of the supervisory college and the role of other regulators, including the establishment of a group wide supervisor.
(4) Coordination of the activities of the supervisory college, including planning meetings, supervisory activities, and information sharing procedures.
(5) Establishment of a crisis management plan.
(c) An insurer that is described in subsection (a) shall pay the commissioner's reasonable expenses of participation in a supervisory college, including travel expenses. The commissioner may establish a regular assessment to the insurer for payment of the expenses.
(d) The commissioner may enter into agreements in accordance with the requirements that apply to an agreement entered into with the NAIC under section 6 of this chapter to specify the activities of the commissioner and other regulators participating in the supervisory college.
(e) This section does not delegate to a supervisory college a commissioner's authority to regulate or supervise the insurer described in subsection (a) or the insurer's affiliates within the commissioner's jurisdiction.
As added by P.L.81-2012, SEC.17. Amended by P.L.72-2016, SEC.13.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 23. Regulation of Insurance Holding Company Systems › 27-1-23-7. Rules and Orders

Sec. 7. The commissioner may adopt, under IC 4-22-2, such rules and orders as are necessary to carry out this chapter, including emergency rules under IC 4-22-2-37.1.
Formerly: Acts 1971, P.L.387, SEC.1. As amended by Acts 1981, P.L.244, SEC.7; P.L.26-1991, SEC.15.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 23. Regulation of Insurance Holding Company Systems › 27-1-23-9. Repealed

Formerly: Acts 1971, P.L.387, SEC.1. As amended by Acts 1978, P.L.2, SEC.2716. Repealed by Acts 1981, P.L.244, SEC.12.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 23. Regulation of Insurance Holding Company Systems › 27-1-23-10. Seizure of Property of Domestic Insurer

Sec. 10. Whenever it appears to the commissioner that any person has committed a violation of this chapter which so impairs the financial condition of a domestic insurer as to threaten insolvency or make the further transaction of business by it hazardous to its policyholders or the public, the commissioner may proceed as provided in the insurance laws of this state to take possession of the property of such domestic insurer and to conduct the business thereof. A determination made under this section must be accompanied by specific findings of fact and conclusions of law.
Formerly: Acts 1971, P.L.387, SEC.1. As amended by Acts 1981, P.L.244, SEC.9; P.L.26-1991, SEC.16.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 23. Regulation of Insurance Holding Company Systems › 27-1-23-10.5. Receiver's Right to Recover Upon Liquidation or Rehabilitation

Sec. 10.5. (a) If an order for liquidation or rehabilitation of a domestic insurer has been entered, the receiver appointed under the order has a right to recover on behalf of the insurer:
(1) from any parent corporation or holding company or person or affiliate that otherwise controlled the insurer, the amount of distributions other than distributions of shares of the same class of stock paid by the insurer on the insurer's capital stock; or
(2) any payment in the form of a bonus, a termination settlement, or an extraordinary lump sum salary adjustment made by the insurer or the insurer's subsidiaries to a director, an officer, or an employee;
if the distribution or payment described in subdivision (1) or (2) is made at any time during the one (1) year preceding the petition for liquidation, conservation, or rehabilitation, as the case may be, subject to the limitations of subsections (b), (c), and (d).
(b) A distribution is not recoverable if the parent or affiliate shows that, when paid, the distribution was lawful and reasonable and that the insurer did not know and could not reasonably have known that the distribution might adversely affect the ability of the insurer to fulfill the insurer's contractual obligations.
(c) Any person that was a parent corporation or holding company or a person that otherwise controlled the insurer or affiliate at the time distributions described in subsection (a) were paid shall be liable up to the amount of distributions or payments under subsection (a) that the person received. Any person that otherwise controlled the insurer at the time the distributions were declared shall be liable up to the amount of distributions the person would have received if the distributions had been paid immediately. If at least two (2) persons are liable with respect to the same distributions, they are jointly and severally liable.
(d) The maximum amount recoverable under this section shall be the amount needed in excess of all other available assets of the impaired or insolvent insurer to pay the contractual obligations of the impaired or insolvent insurer and to reimburse any guaranty funds.
(e) To the extent that any person liable under subsection (c) is insolvent or otherwise fails to pay claims due from the person, the person's parent corporation or holding company or the person that otherwise controlled the person at the time the distribution was paid is jointly and severally liable for any resulting deficiency in the amount recovered from the parent corporation or holding company or person that otherwise controlled the person.
As added by P.L.130-1994, SEC.32 and P.L.116-1994, SEC.42.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 23. Regulation of Insurance Holding Company Systems › 27-1-23-11. Denial, Suspension, or Revocation of License or Authority to Do Business

Sec. 11. Whenever it appears to the commissioner that any person has committed a violation of this chapter which makes the continued operation of an insurer contrary to the interests of policyholders or the public, the commissioner may, after giving notice and an opportunity to be heard, determine to suspend, revoke or refuse to renew such insurer's license or authority to do business in this state for such period as he finds is required for the protection of policyholders or the public.
Formerly: Acts 1971, P.L.387, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 23. Regulation of Insurance Holding Company Systems › 27-1-23-12. Review of Actions of Commissioner; Stay; Mandamus

Sec. 12. (a) Any person aggrieved by any agency action of the commissioner pursuant to this chapter may petition for judicial review thereof in accordance, so far as practical, with IC 4-21.5-5.
(b) Notwithstanding IC 4-21.5-5, the filing of a petition for review of the commissioner's determination approving an acquisition of control under section 2 of this chapter shall stay the application of any such determination or other action of the commissioner unless the court to which the petition is directed, after giving the petitioner notice and an opportunity to be heard, determines that such a stay would be detrimental to the interests of policyholders or the public.
(c) Any person aggrieved by any failure of the commissioner to act or make a determination required by this chapter may bring an action for mandate in the circuit court of Marion County to compel the commissioner to act or make such determination forthwith.
Formerly: Acts 1971, P.L.387, SEC.1. As amended by Acts 1981, P.L.244, SEC.10; P.L.7-1987, SEC.141.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 23. Regulation of Insurance Holding Company Systems › 27-1-23-13. Application of Chapter

Sec. 13. This chapter, while independent in its enactment of any other law, shall be supplemental to the Indiana Insurance Law (IC 27-1-2 through IC 27-1-20). All provisions of IC 27-1-2 through IC 27-1-20 shall be fully and completely applicable to this chapter in the same manner as if the provisions of this chapter had been an original part of IC 27-1-2 through IC 27-1-20. This chapter shall be controlling in the event there exists any conflict between this chapter and IC 27-1-2 through IC 27-1-20.
Formerly: Acts 1971, P.L.387, SEC.1. As amended by Acts 1981, P.L.244, SEC.11.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 23.5. Risk Management and Own Risk and Solvency Assessment › 27-1-23.5-3. "Insurance Group"

Sec. 3. As used in this chapter, "insurance group", for purposes of conducting an ORSA, means insurers and affiliates of an insurance holding company system (as defined in IC 27-1-23-1).
As added by P.L.129-2014, SEC.8.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 23.5. Risk Management and Own Risk and Solvency Assessment › 27-1-23.5-4. "Insurer"

Sec. 4. As used in this chapter, "insurer" has the same meaning as set forth in IC 27-1-2-3, except that the term:
(1) refers only to domestic insurers (as defined in IC 27-1-36-8); and
(2) does not include agencies, authorities, or instrumentalities of the United States, possessions and territories of the United States, the Commonwealth of Puerto Rico, the District of Columbia, or a state or political subdivision of a state.
As added by P.L.129-2014, SEC.8.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 23.5. Risk Management and Own Risk and Solvency Assessment › 27-1-23.5-5. "Orsa"

Sec. 5. As used in this chapter, "ORSA" or "own risk and solvency assessment" means a confidential internal assessment:
(1) that is:
(A) appropriate to the nature, scale, and complexity of; and
(B) conducted by;
an insurer or insurance group; and
(2) of the:
(A) material and relevant risks associated with the insurer or insurance group's current business plan; and
(B) sufficiency of capital resources to support the risks described in clause (A).
As added by P.L.129-2014, SEC.8.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 23.5. Risk Management and Own Risk and Solvency Assessment › 27-1-23.5-7. "Orsa Summary Report"

Sec. 7. As used in this chapter, "ORSA summary report" means a confidential, high level summary of an insurer or insurance group's ORSA.
As added by P.L.129-2014, SEC.8.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 23.5. Risk Management and Own Risk and Solvency Assessment › 27-1-23.5-8. Risk Management Framework

Sec. 8. (a) An insurer shall maintain a risk management framework to assist the insurer with identifying, assessing, monitoring, managing, and reporting concerning the insurer's material and relevant risks.
(b) If an insurance group of which an insurer is a member maintains a risk management framework described in subsection (a) that applies to the operations of the insurer, the insurer is considered to be in compliance with subsection (a).
As added by P.L.129-2014, SEC.8.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 23.5. Risk Management and Own Risk and Solvency Assessment › 27-1-23.5-9. Conducting an Orsa

Sec. 9. Subject to section 11 of this chapter, an:
(1) insurer; or
(2) insurance group of which an insurer is a member;
shall, at any time when significant changes occur to the risk profile of the insurer or insurance group and at least one (1) time per year, conduct an ORSA in a manner consistent with the ORSA guidance manual.
As added by P.L.129-2014, SEC.8.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 23.5. Risk Management and Own Risk and Solvency Assessment › 27-1-23.5-10. Orsa Reports; Requirements

Sec. 10. (a) Upon the request of the commissioner, and not more than one (1) time per year, an insurer shall submit to the commissioner:
(1) an ORSA summary report; or
(2) a combination of reports that together contain the information described in the ORSA Manual;
applicable to the insurer or insurance group of which the insurer is a member.
(b) Regardless of a request from the commissioner, if the commissioner is the lead state commissioner of an insurance group of which an insurer is a member (as determined by the procedures in the Financial Analysis Handbook), the insurer shall submit a report described in subsection (a) at least one (1) time per year.
(c) A report required by this section must include a signature of the insurer's or insurance group's chief risk officer, or another executive who has responsibility for the oversight of the insurer's enterprise risk management process, attesting that:
(1) to the best of the officer's or executive's belief and knowledge the insurer applies the enterprise risk management process described in the ORSA summary report; and
(2) a copy of the report has been provided to the insurer's board of directors or the appropriate committee of the insurer's board of directors.
(d) If an insurer or another member of an insurance group of which the insurer is a member submits to the commissioner the most recent report that:
(1) was provided to the:
(A) commissioner of another state; or
(B) regulatory authority of an alien jurisdiction;
(2) is substantially similar to an ORSA summary report; and
(3) contains information that is comparable to the information described in the ORSA Manual;
the insurer is considered to have satisfied the requirements of this section.
(e) If a report described in subsection (d) is completed in a language other than English, a translation of the report into the English language must be submitted with the report.
As added by P.L.129-2014, SEC.8. Amended by P.L.124-2018, SEC.44.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 23.5. Risk Management and Own Risk and Solvency Assessment › 27-1-23.5-12. Orsa Summary Report Preparation, Review

Sec. 12. (a) Except as provided in subsection (b), an ORSA summary report must be prepared in a manner consistent with the ORSA guidance manual. Documentation and supporting information must be maintained and made available upon examination or request of the commissioner.
(b) The commissioner's review of an ORSA summary report, and any requests for additional information, must be made in a manner similar to the procedures used by the commissioner in the analysis and examination of multistate or global insurers and insurance groups.
As added by P.L.129-2014, SEC.8.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 23.5. Risk Management and Own Risk and Solvency Assessment › 27-1-23.5-14. Civil Penalties

Sec. 14. (a) An insurer that fails, without just cause (as determined by the commissioner), to timely file an ORSA summary report as required by this chapter shall, after notice and hearing under IC 4-21.5, pay a civil penalty of one hundred dollars ($100) for each day of noncompliance, not to exceed ten thousand dollars ($10,000).
(b) The commissioner may reduce a penalty imposed under subsection (a) if the insurer demonstrates to the commissioner that the imposition of the penalty would constitute a financial hardship to the insurer.
(c) A civil penalty collected under this section shall be deposited in the department of insurance fund established by IC 27-1-3-28.
As added by P.L.129-2014, SEC.8.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 24.5. Pharmacy Benefit Managers › 27-1-24.5-2. "Effective Rate of Reimbursement"

Sec. 2. As used in this chapter, "effective rate of reimbursement" includes the following:
(1) Generic effective rates.
(2) Brand effective rates.
(3) Direct and indirect remuneration fees.
(4) Any other reduction or aggregate reduction of payment.
As added by P.L.68-2020, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 24.5. Pharmacy Benefit Managers › 27-1-24.5-3. "Equal Access and Incentives"

Sec. 3. As used in this chapter, "equal access and incentives" means that a pharmacy benefit manager allows any willing pharmacy provider to participate as part of any of the pharmacy benefit manager's networks as long as the pharmacy provider agrees to the terms and conditions of the relevant contract applicable to any other pharmacy provider within that network.
As added by P.L.68-2020, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 24.5. Pharmacy Benefit Managers › 27-1-24.5-4. "Generic Drug"

Sec. 4. As used in this chapter, "generic drug" means a drug product that is identified by the drug's chemical name and that is:
(1) accepted by the federal Food and Drug Administration;
(2) available from at least three (3) sources; and
(3) therapeutically equivalent to an originating brand name drug.
As added by P.L.68-2020, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 24.5. Pharmacy Benefit Managers › 27-1-24.5-5. "Health Plan"

Sec. 5. As used in this chapter, "health plan" means the following:
(1) A state employee health plan (as defined in IC 5-10-8-6.7).
(2) A policy of accident and sickness insurance (as defined in IC 27-8-5-1). However, the term does not include the coverages described in IC 27-8-5-2.5(a).
(3) An individual contract (as defined in IC 27-13-1-21) or a group contract (as defined in IC 27-13-1-16) that provides coverage for basic health care services (as defined in IC 27-13-1-4).
(4) Any other plan or program that provides payment, reimbursement, or indemnification to a covered individual for the cost of prescription drugs.
As added by P.L.68-2020, SEC.1. Amended by P.L.207-2021, SEC.52.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 24.5. Pharmacy Benefit Managers › 27-1-24.5-7. "Maximum Allowable Cost"

Sec. 7. As used in this chapter, "maximum allowable cost" means the maximum amount that a pharmacy benefit manager will reimburse a pharmacy for the cost of a generic drug. The term does not include a dispensing fee or professional fee.
As added by P.L.68-2020, SEC.1. Amended by P.L.32-2021, SEC.76.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 24.5. Pharmacy Benefit Managers › 27-1-24.5-8. "Maximum Allowable Cost List"

Sec. 8. As used in this chapter, "maximum allowable cost list" means a list of drugs that is used:
(1) by a pharmacy benefit manager; and
(2) to set the maximum amount that may be reimbursed to a pharmacy or pharmacist for a drug.
As added by P.L.68-2020, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 24.5. Pharmacy Benefit Managers › 27-1-24.5-10. "Pharmacist Services"

Sec. 10. As used in this chapter, "pharmacist services" means products, goods, and services provided as part of the practice of pharmacy.
As added by P.L.68-2020, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 24.5. Pharmacy Benefit Managers › 27-1-24.5-11. "Pharmacy"

Sec. 11. As used in this chapter, "pharmacy" means the physical location:
(1) that is licensed under IC 25-26; and
(2) at which drugs, chemicals, medicines, prescriptions, and poisons are compounded, dispensed, or sold at retail.
As added by P.L.68-2020, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 24.5. Pharmacy Benefit Managers › 27-1-24.5-12. "Pharmacy Benefit Manager"

Sec. 12. (a) As used in this chapter, "pharmacy benefit manager" means an entity that, on behalf of a health plan, state agency, insurer, managed care organization, or other third party payor:
(1) contracts directly or indirectly with pharmacies to provide prescription drugs to individuals;
(2) administers a prescription drug benefit;
(3) processes or pays pharmacy claims;
(4) creates or updates prescription drug formularies;
(5) makes or assists in making prior authorization determinations on prescription drugs;
(6) administers rebates on prescription drugs; or
(7) establishes a pharmacy network.
(b) The term does not include the following:
(1) A person licensed under IC 16.
(2) A health provider who is:
(A) described in IC 25-0.5-1; and
(B) licensed or registered under IC 25.
(3) A consultant who only provides advice concerning the selection or performance of a pharmacy benefit manager.
As added by P.L.68-2020, SEC.1. Amended by P.L.32-2021, SEC.77.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 24.5. Pharmacy Benefit Managers › 27-1-24.5-13. "Pharmacy Benefit Manager Affiliate"

Sec. 13. As used in this chapter, "pharmacy benefit manager affiliate" means a pharmacy or pharmacist that directly or indirectly, through one (1) or more intermediaries:
(1) owns or controls;
(2) is owned or controlled by; or
(3) is under common ownership or control with;
a pharmacy benefit manager.
As added by P.L.68-2020, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 24.5. Pharmacy Benefit Managers › 27-1-24.5-14. "Pharmacy Benefit Manager Network"

Sec. 14. As used in this chapter, "pharmacy benefit manager network" means a group of pharmacies or pharmacists that is offered:
(1) through an agreement or health plan contract; and
(2) to provide pharmacist services for health plans.
As added by P.L.68-2020, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 24.5. Pharmacy Benefit Managers › 27-1-24.5-15. "Pharmacy Services Administrative Organization"

Sec. 15. As used in this chapter, "pharmacy services administrative organization" means an organization that assists independent pharmacies and pharmacy benefit managers or health plans to achieve administrative efficiencies, including contracting and payment efficiencies.
As added by P.L.68-2020, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 24.5. Pharmacy Benefit Managers › 27-1-24.5-16. "Rebate"

Sec. 16. (a) As used in this chapter, "rebate" means a discount or other price concession that is:
(1) based on use of a prescription drug; and
(2) paid by a manufacturer or third party to a pharmacy benefit manager, pharmacy services administrative organization, or pharmacy after a claim has been processed and paid at a pharmacy.
(b) The term includes an incentive and a disbursement.
As added by P.L.68-2020, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 24.5. Pharmacy Benefit Managers › 27-1-24.5-17. "Third Party"

Sec. 17. As used in this chapter, "third party" means a person other than a:
(1) pharmacy benefit manager; or
(2) covered individual.
As added by P.L.68-2020, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 24.5. Pharmacy Benefit Managers › 27-1-24.5-19. Equal Access and Incentives; Prohibited Acts

Sec. 19. (a) A pharmacy benefit manager shall provide equal access and incentives to all pharmacies within the pharmacy benefit manager's network.
(b) A pharmacy benefit manager may not do any of the following:
(1) Condition participation in any network on accreditation, credentialing, or licensing of a pharmacy, other than a license or permit required by the Indiana board of pharmacy or other state or federal regulatory authority for the services provided by the pharmacy. However, nothing in this subdivision precludes the department from providing credentialing or accreditation standards for pharmacies.
(2) Discriminate against any pharmacy.
(3) Directly or indirectly retroactively deny a claim or aggregate of claims after the claim or aggregate of claims has been adjudicated, unless any of the following apply:
(A) The original claim was submitted fraudulently.
(B) The original claim payment was incorrect because the pharmacy or pharmacist had already been paid for the drug.
(C) The pharmacist services were not properly rendered by the pharmacy or pharmacist.
(4) Reduce, directly or indirectly, payment to a pharmacy for pharmacist services to an effective rate of reimbursement, including permitting an insurer or plan sponsor to make such a reduction.
(5) Reimburse a pharmacy that is affiliated with the pharmacy benefit manager, other than solely being included in the pharmacy benefit manager's network, at a greater reimbursement rate than other pharmacies in the same network.
(6) Impose limits, including quantity limits or refill frequency limits, on a pharmacy's access to medication that differ from those existing for a pharmacy benefit manager affiliate.
(7) Share any covered individual's information, including de-identified covered individual information, received from a pharmacy or pharmacy benefit manager affiliate, except as permitted by the federal Health Insurance Portability and Accountability Act (HIPAA) (P.L.104-191).
A violation of this subsection by a pharmacy benefit manager constitutes an unfair or deceptive act or practice in the business of insurance under IC 27-4-1-4.
As added by P.L.68-2020, SEC.1. Amended by P.L.32-2021, SEC.78; P.L.196-2021, SEC.22.