reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 20. Additional Provisions Pertaining to All Insurance Companies › 27-1-20-2. Repealed

Formerly: Acts 1935, c.162, s.249; Acts 1935, c.162, s.269. As amended by Acts 1957, c.124, s.1. Repealed by Acts 1971, P.L.1, SEC.8.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 20. Additional Provisions Pertaining to All Insurance Companies › 27-1-20-3. Eligibility of Investments for Deposit; Existing Investments

Sec. 3. Eligible investments made or deposited prior to March 8, 1935, shall continue to be eligible for deposit, subject, however, to section 4 of this chapter.
Formerly: Acts 1935, c.162, s.250. As amended by P.L.252-1985, SEC.87.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 20. Additional Provisions Pertaining to All Insurance Companies › 27-1-20-4. Revaluation of Investments Omitting Interest or Dividends

Sec. 4. If any investment when made or purchased conforms to the requirements of this law, or of any law of this state at the date of such deposit, it shall continue to be eligible for deposit for the full amount thereof so long as: (a) in the case of an interest-bearing investment, the interest is not in default for more than two (2) years; and (b) in the case of a dividend-paying investment, the dividends are not unpaid for more than two (2) years: Provided, however, That when there shall be a default in the payment of interest, or a failure to pay dividends, for a period of more than two (2) years, the commissioner may, if he deems it advisable, require the company to furnish reasonable proof of the then fair value of the investment and the same shall thereafter continue to be a proper investment and available for deposit for the fair value thus determined, not exceeding the amount due on any given promise to pay or the amount paid for a given share of stock.
Formerly: Acts 1935, c.162, s.251.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 20. Additional Provisions Pertaining to All Insurance Companies › 27-1-20-5. Deposit of Securities Acquired From Foreign Life Insurer Under Reinsurance Agreement

Sec. 5. Nothing in this law shall prevent the deposit of securities and other evidences of ownership of property, acquired from a life insurance company domiciled in a foreign state or alien country by a domestic life insurance company under a reinsurance agreement approved by the department, provided such securities and property comply with the investment requirements of the state of incorporation of such reinsured company.
Formerly: Acts 1935, c.162, s.252.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 20. Additional Provisions Pertaining to All Insurance Companies › 27-1-20-6. Transfer of Defaulted Deposited Securities to Other Depository Under Financial Reorganization Agreement; Filing Receipt; Effect on Deposit Credit

Sec. 6. If a life insurance company, in order to protect itself against loss on account of defaulted securities issued by a public or private corporation and deposited with the department in accordance with this article, enters into an agreement incidental to the financial reorganization of such corporation, and requiring a deposit of such securities with a committee or a depository designated in such agreement, such securities may be withdrawn from the deposit with the department and transferred to the committee or depository designated in such agreement without reducing the deposit credit of such company, provided that a proper receipt executed by the committee or depository be filed with the department within fifteen (15) days following the date such securities are withdrawn, or within such further period of time as the commissioner may in his discretion allow.
Formerly: Acts 1935, c.162, s.253. As amended by P.L.252-1985, SEC.88.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 20. Additional Provisions Pertaining to All Insurance Companies › 27-1-20-7. Withdrawal From Deposit to Pledge for Loan; Effect; Redeposit

Sec. 7. Nothing in this article shall prevent a life insurance company, with the commissioner's consent, from withdrawing investments from deposit for the purpose of pledging them for a loan or loans, in which case the difference between the deposit value of such investments and the amount of the obligation or obligations thereby secured shall, unless and until such pledge is foreclosed, continue as a deposit credit, and when such investments are offered for deposit they shall be reinstated in all respects to their former status as a deposit.
Formerly: Acts 1935, c.162, s.254. As amended by P.L.252-1985, SEC.89.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 20. Additional Provisions Pertaining to All Insurance Companies › 27-1-20-9. Substitution of Securities on Deposit; Withdrawal of Securities in Excess of Requirements

Sec. 9. Companies shall have the right at any time to change their securities on deposit, by substituting for those withdrawn a like amount in other securities of the character provided for in this article, and whenever the net cash value of policies outstanding and in force against any company is less than the amount of securities then on deposit with the department, said company shall have the right to withdraw such excess, but at least twenty-five thousand dollars ($25,000) shall remain on deposit.
Formerly: Acts 1935, c.162, s.256. As amended by P.L.252-1985, SEC.90.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 20. Additional Provisions Pertaining to All Insurance Companies › 27-1-20-10. Disposition of Interest Earned by Securities on Deposit

Sec. 10. The department shall permit companies having on deposit with it stocks or bonds as security, to collect the interest accruing on such deposits, delivering to their authorized agents, respectively, the coupons or other evidences of interest as the same become due; but upon default by any company to deposit additional security as called for by the department or pending any proceedings for rehabilitation, liquidation or conservation of such company, the department shall collect the interest as it becomes due and add the same to the securities in its possession, or under its control, belonging to such company.
Formerly: Acts 1935, c.162, s.257.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 20. Additional Provisions Pertaining to All Insurance Companies › 27-1-20-11. Discontinuance of Business; Procedure for Return of Deposited Securities

Sec. 11. When any company determines to discontinue its business and ceases to do business in this state and desires to withdraw its deposit made in this state pursuant to this article, the department shall upon the application of the company and at the expense of the company give notice of such intention in a newspaper of general circulation in the state once a week for a period of four (4) weeks. After such publication it shall deliver to such company or its assigns the securities so deposited when it is satisfied upon examination and investigation made by it or under its authority and upon the oaths of the president or a vice president and the secretary or an assistant secretary of the company that all debts and liabilities of every kind due and to become due which the deposit was made to secure are paid and extinguished.
Formerly: Acts 1935, c.162, s.258. As amended by P.L.252-1985, SEC.91.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 20. Additional Provisions Pertaining to All Insurance Companies › 27-1-20-12. Retaliatory Provisions

Sec. 12. (a) When, by the laws of any other state, any taxes, fines, penalties, licenses, fees, deposits of money or securities, or other obligations or prohibitions are imposed upon insurance companies of this or other states, or their agents, greater than are required by laws of this state, then the same obligations and prohibitions, of whatever kind, shall, in like manner for like purposes, be imposed upon all insurance companies of such states and their agents. All insurance companies of other nations, under this section, shall be held as of the state where they have elected to make their deposit and establish their principal agency in the United States.
(b) Whenever it shall be made to appear to the insurance commissioner that permission to transact business within any state of the United States, other than the state of Indiana, or within any foreign country, is refused to an insurance company organized under the laws of this state, after a certificate of the solvency and good management of such company has been issued to it by the insurance commissioner and after such company has complied with any reasonable laws of such other state or foreign country requiring deposits of money or securities with the government of such other state or foreign country, then and in every such case, the commissioner may forthwith cancel the authority of every insurance company organized under the laws of such other state or foreign country and licensed to do business in this state, and may refuse a certificate of authority to every such company thereafter applying to him for authority to do business in this state, until his certificate shall have been duly recognized by the government of such other state or foreign country.
Formerly: Acts 1935, c.162, s.259; Acts 1937, c.288, s.5.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 20. Additional Provisions Pertaining to All Insurance Companies › 27-1-20-13. Fees of Secretary of State

Sec. 13. The fees payable to the secretary of the state by insurance companies which are organized or reorganized under the laws of this state or the laws of any other state, territory or insular possession of the United States or the District of Columbia shall be the same as the fees prescribed in chapter 219 of the Acts of the General Assembly of 1929.
Formerly: Acts 1935, c.162, s.262.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 20. Additional Provisions Pertaining to All Insurance Companies › 27-1-20-14. Pension Plan for Officers and Employees

Sec. 14. Any insurance company organized under the laws of this state, in addition to the rights and powers conferred upon it by the law under which it was organized and/or under which it operates, shall have the power to establish a pension plan or system for the benefit of its officers and employees. Before such a plan or system is adopted by a company, it shall be submitted to and approved by the commissioner of insurance.
Formerly: Acts 1935, c.162, s.262a.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 20. Additional Provisions Pertaining to All Insurance Companies › 27-1-20-15. Automatic Revocation of Authority for Failure to Timely Complete Organization

Sec. 15. If any company, whether organized under the provisions of this article or of any statute enacted prior to March 8, 1935, for the purpose of making any kind or kinds of insurance, does not complete its organization and proceed with the transaction of business, pursuant to the provisions of the statute under which it is organized, within a period of one (1) year after its articles of incorporation or its organization shall have been approved and filed in the office of the secretary of state, the approval so given shall be deemed to be revoked and such articles of incorporation or such organization shall be null and void.
Formerly: Acts 1935, c.162, s.264. As amended by P.L.252-1985, SEC.92.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 20. Additional Provisions Pertaining to All Insurance Companies › 27-1-20-19. Misrepresentation of Funds Available to Pay Losses or Policy Claims

Sec. 19. No company doing business in this state or agent thereof shall state or represent by advertisement in any newspaper, periodical or magazine or by any sign, circular, card, policy of insurance or certificate of renewal thereof or otherwise that any funds or assets are in possession of such company which are not actually owned by it and available for the payment of losses and claims and held for the protection of its policyholders and creditors. Funds deposited by any company, under depository laws of this or other states, shall be considered as in the company's possession for the payment of losses or policy claims.
Formerly: Acts 1935, c.162, s.267.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 20. Additional Provisions Pertaining to All Insurance Companies › 27-1-20-20. Financial Statement; Requirements; Violations; Penalties

Sec. 20. Except as otherwise provided in this section, every advertisement or public announcement and every sign, circular or card issued or displayed by any domestic, foreign or alien company doing business in this state, purporting to make known its financial condition, shall state the amount of its paid-up capital, the assets owned, its liabilities, including therein the premium and loss reserves required by law, and the amount of net surplus of admitted assets over all its liabilities actually available for the payment of its losses and claims and held for the protection of its policyholders and shall correspond to the next preceding verified statement made to the department by such company. The foregoing shall not apply to a statement showing only the capital stock paid up and the surplus separately and combined, but such items shall not be in excess of the corresponding items shown on the verified statements made by such company to the department next preceding the making or issuing of the same. Every advertisement or public announcement and every sign, circular or card issued or displayed by an alien company doing business in this state, purporting to make known its financial condition, shall segregate and state separately the capital and assets held by its United States branch, the liabilities, including therein the premium and loss reserves required by law, and the amount of net surplus of assets over all its liabilities actually available for the payment of its losses and claims and held for the protection of its policyholders in the United States and shall correspond to the next preceding verified annual statement made by such company to the commissioner.
Despite any other provision of the laws of this state an insurer may, subject to requirements set forth by regulation promulgated by the Commissioner, publish financial statements or information based on financial statements prepared on a basis which is in accordance with requirements of a competent authority and which differs from the basis of the statements which have been filed with the Insurance Commissioner. Such differing financial statements or information based on financial statements shall not be made the basis for the application of provisions of any laws of this state not relating solely to the publication of financial information unless such provisions specifically so require.
For every willful violation of this section and section 19 of this chapter by any such company or by an agent thereof the company shall forfeit for the first offense to the state of Indiana the sum of five hundred dollars ($500) and for every subsequent offense the sum of one thousand dollars ($1,000), which, when recovered, shall be paid to the state treasurer.
Formerly: Acts 1935, c.162, s.268; Acts 1974, P.L.123, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 20. Additional Provisions Pertaining to All Insurance Companies › 27-1-20-21. Annual Financial Statement; Microfilm Copies

Sec. 21. Every company doing business in this state shall file with the department on or before March 1 in each year a financial statement for the year ending December 31 immediately preceding in a format in accordance with IC 27-1-3-13. For good and sufficient cause shown, the commissioner may grant to any individual company a reasonable extension of time not to exceed ninety (90) days within which such statement may be filed. Such statement shall be verified by the oaths of the president or a vice president and the secretary or an assistant secretary of the company. The statement of an alien company shall segregate and state separately its condition and transaction in the United States and such segregated and separated statement shall be verified by the oath of its resident manager or principal representative in the United States. The commissioner of insurance may, with the approval of the Indiana archives and records administration, authorize the destruction of such annual statements which have been on file for two (2) years or more and microfilm copies of which have been made and filed.
Formerly: Acts 1935, c.162, s.269; Acts 1957, c.124, s.1. As amended by P.L.252-1985, SEC.94; P.L.159-1986, SEC.4; P.L.271-1987, SEC.3; P.L.3-1989, SEC.151; P.L.246-1989, SEC.1; P.L.130-1994, SEC.26; P.L.116-1994, SEC.36; P.L.1-1998, SEC.140; P.L.268-1999, SEC.8; P.L.171-2015, SEC.45.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 20. Additional Provisions Pertaining to All Insurance Companies › 27-1-20-21.2. Civil Penalty; Failure to Comply With Ic 27-1-20-21

Sec. 21.2. The commissioner may impose a civil penalty of five hundred dollars ($500) under IC 4-21.5-3 on an insurance company that fails to comply with section 21 of this chapter.
As added by P.L.1-1990, SEC.258.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 20. Additional Provisions Pertaining to All Insurance Companies › 27-1-20-21.3. Actuarial Opinions

Sec. 21.3. (a) Every domestic casualty insurance company, domestic fire and marine insurance company, and domestic life and health insurance company shall include an actuarial opinion as an additional part of the financial statement required under section 21 of this chapter. The commissioner shall adopt rules under IC 4-22-2 that:
(1) prescribe the form and content of the actuarial opinion required by this section; and
(2) establish minimum qualifications that an actuary must meet in order to provide the actuarial opinion required under this section.
(b) The actuarial opinion required by subsection (a) shall be included with every annual statement beginning with the statement for calendar year 1994.
As added by P.L.1-1990, SEC.259. Amended by P.L.130-1994, SEC.27; P.L.116-1994, SEC.37; P.L.14-2000, SEC.57.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 20. Additional Provisions Pertaining to All Insurance Companies › 27-1-20-22. Verification of Accounts and Reports

Sec. 22. Whenever any provision of this article requires that there shall be filed any verified account, report, or other paper by any person, firm, or corporation, such account, report, or other paper shall be executed by the person or persons filing such account, report, or other paper or by the president or such other officer as may be designated by the board of directors of any corporation filing such account, report, or other paper, and the truth of the matters stated in the account, report, or other paper shall be sworn to under oath by such person or by such president or other officer, before a notary public or other officer duly qualified to administer oaths.
Formerly: Acts 1935, c.162, s.270. As amended by P.L.252-1985, SEC.95; P.L.136-2018, SEC.165.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 20. Additional Provisions Pertaining to All Insurance Companies › 27-1-20-23. Remedies of Receivership Exclusive With Department; Exception in Favor of Judgment Creditor

Sec. 23. No order, judgment, or decree providing for an accounting or enjoining, restraining, or interfering with the operation of the business of any insurance company, association, or society, to which any provision of this article is applicable, or for the appointment of a temporary or permanent receiver thereof, shall be made or granted otherwise than upon the application of the department, except in an action by a judgment creditor or in proceedings supplemental to execution.
Formerly: Acts 1935, c.162, s.270a. As amended by P.L.252-1985, SEC.96.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 20. Additional Provisions Pertaining to All Insurance Companies › 27-1-20-25. Organization of New Companies on Lloyds or Assessment Plan Prohibited; Surplus Requirement for Reciprocal Plan

Sec. 25. (a) A domestic company that organized after March 7, 1935, may not operate:
(1) an insurance business on the assessment plan; or
(2) an insurance business as Lloyds.
(b) A domestic company may not operate an insurance business on the reciprocal plan as an interinsurer or individual underwriter unless it has a surplus over all policy liabilities of not less than two hundred fifty thousand dollars ($250,000).
Formerly: Acts 1935, c.162, s.272. As amended by Acts 1977, P.L.282, SEC.4.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 20. Additional Provisions Pertaining to All Insurance Companies › 27-1-20-26. Exemption From Article of a Farm Mutual Insurance Company

Sec. 26. Except as provided in IC 27-5.1-2-8, the provisions of this article shall not apply to a farm mutual insurance company or any similar company organized and operating under IC 27-5 (before its repeal) or IC 27-5.1, nor shall any provision of this article be construed as repealing any provision of the statutes applicable to the companies and associations referred to in this section.
Formerly: Acts 1935, c.162, s.272a. As amended by P.L.252-1985, SEC.97; P.L.129-2003, SEC.4.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 20. Additional Provisions Pertaining to All Insurance Companies › 27-1-20-27. Exemption of Domestic Mutual Fire Insurance Companies

Sec. 27. The provisions of IC 27-1-5 through IC 27-1-19 and this chapter shall not apply to any domestic mutual fire insurance company or association licensed as of March 8, 1935, originally organized and operated by farmers to insure farm property.
Formerly: Acts 1935, c.162, s.272b. As amended by P.L.252-1985, SEC.98.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 20. Additional Provisions Pertaining to All Insurance Companies › 27-1-20-28. Repealed

Formerly: Acts 1935, c.162, s.272c. As amended by P.L.252-1985, SEC.99; P.L.28-1988, SEC.78; P.L.170-1991, SEC.26. Repealed by P.L.117-2021, SEC.3.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 20. Additional Provisions Pertaining to All Insurance Companies › 27-1-20-29. Exemption of Abstract and Title Insurance Companies

Sec. 29. Nothing contained in this article shall be construed to affect or apply to any corporation organized before March 8, 1935, under any law of this state which is authorized to engage in the making of abstracts of title to real estate and the issuing of certificates insuring or guaranteeing the titles to real estate.
Formerly: Acts 1935, c.162, s.272d. As amended by P.L.252-1985, SEC.100.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 20. Additional Provisions Pertaining to All Insurance Companies › 27-1-20-30. Rebate of Premium or Commission; Unfair Competition

Sec. 30. (a) This section does not prohibit activities allowed under IC 27-1-47.
(b) No company acting through its officers or members, attorney-in-fact, or by any other party, no officer of a company acting on the officer's own behalf and no insurance producer, broker, or solicitor, personally or by any other party, shall offer, promise, allow, give, set off or pay, directly or indirectly, any rebate of or part of the premium payable on a policy, or any insurance producer's commission thereon, or earnings, profits, dividends or other benefits founded, arising, accruing, or to accrue thereon or therefrom, or any special advantage in date of policy or age of issue, or any paid employment or contract for services of any kind, or any other valuable consideration or inducement, to or for insurance on any risk in this state, now or hereafter to be written, or for or upon any renewal of any such insurance, which is not specified in the policy contract of insurance, or offer, promise, give, option, sell or purchase any stocks, bonds, securities, or property, or any dividends or profits accruing or to accrue thereon, or other thing of value whatsoever as inducement to insurance or in connection therewith, or any renewal thereof, which is not specified in the policy. Nothing in this section shall prevent a company which transacts industrial life insurance on a weekly payment plan from returning to policyholders who have made a premium payment for a period of at least one (1) year directly to the company at its home or district office a percentage of premium which the company would otherwise have paid for the weekly collection of such premium, nor shall this section be construed to prevent the taking of a bona fide obligation, with legal interest, in payment of any premium.
(c) No insured person or party or applicant for insurance shall directly or indirectly, receive or accept, or agree to receive or accept, any rebate of premium or of any part thereof, or all or any part of any insurance producer's or broker's commission thereon, or any favor or advantage, or share in any benefit to accrue under any policy of insurance, or any valuable consideration or inducement, other than such as are specified in the policy.
Formerly: Acts 1935, c.162, s.273. As amended by Acts 1978, P.L.2, SEC.2713; P.L.178-2003, SEC.20; P.L.196-2021, SEC.20.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 20. Additional Provisions Pertaining to All Insurance Companies › 27-1-20-31. Restrictions on Interlocking Directorates

Sec. 31. Insurance corporations may have interlocking directorates, provided no person at the same time shall be a director in two (2) or more insurance corporations where the effect may be to substantially lessen competition generally or tend to create a monopoly. Whenever the commissioner of insurance has reason to believe that there is a violation of this section, he shall have the authority to proceed to an adjudication of the violation under IC 4-21.5-3.
Formerly: Acts 1935, c.162, s.273a; Acts 1949, c.90, s.1. As amended by P.L.252-1985, SEC.101; P.L.7-1987, SEC.139.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 20. Additional Provisions Pertaining to All Insurance Companies › 27-1-20-32. Effect of Captions

Sec. 32. No caption of any section or set of sections of Acts 1935, c.162 shall in any way affect the interpretation of this article or any provision of this article.
Formerly: Acts 1935, c.162, s.275. As amended by P.L.252-1985, SEC.102.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 20. Additional Provisions Pertaining to All Insurance Companies › 27-1-20-35. Insurer Response to Department Request

Sec. 35. (a) Except as otherwise provided in this title, a company shall respond to a written inquiry or request that:
(1) is made by the department; and
(2) meets the requirements of subsection (b);
not more than twenty (20) business days after the date the written inquiry or request is received by the company.
(b) A written inquiry or request described in subsection (a) must do all of the following:
(1) Be addressed to the individual who holds the position that the company has designated as the position reasonably capable of processing such an inquiry or request.
(2) Specify that the inquiry or request is made under this section.
(3) Specify the penalty described in subsection (d) to which the company is subject for noncompliance with the inquiry or request.
(4) Numerically list the questions to which a response is requested.
(c) The commissioner may, upon request of a company for extenuating circumstances, grant a company an extension of the period specified in subsection (a) or waive all or any part of a civil penalty described in subsection (d).
(d) The commissioner may assess against a company that does not comply with subsection (a) a civil penalty of one hundred dollars ($100) per day of noncompliance. A civil penalty assessed under this subsection may not exceed three thousand dollars ($3,000).
(e) The commissioner shall deposit a civil penalty collected under this section in the department of insurance fund established by IC 27-1-3-28.
As added by P.L.81-2012, SEC.8.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 20. Additional Provisions Pertaining to All Insurance Companies › 27-1-20-36. Health Insurer Withdrawal From Individual Market

Sec. 36. (a) As used in this section, "health insurance" means the kind of coverage provided under a health insurance plan.
(b) As used in this section, "health insurance plan" means any of the following:
(1) An individual 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).
(2) An individual contract (as defined in IC 27-13-1-21).
(c) As used in this section, "insurer" is limited to a person that enters into, issues, or delivers a health insurance plan on an individual basis in Indiana.
(d) An insurer shall, at least one hundred eighty (180) days before withdrawing from the individual health insurance market in Indiana, provide to the department written notice of the insurer's intent to withdraw.
As added by P.L.81-2012, SEC.9.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 21. Additional Provisions Pertaining to Insurance Company Investments › 27-1-21-1. Treatment of Prior Investments

Sec. 1. IC 27-1-12-2, IC 27-1-12-3, IC 27-1-12-11, and IC 27-1-20-8 in their operation shall be subject to the following limitations and reservations:
(a) The validity for deposit and investment purposes of investments made before March 6, 1945, pursuant to the deposit investment requirements of s.147, s.148, s.149, or s.155 of Acts 1935, c.162 or which qualified for deposit under any of those sections prior to March 6, 1945, shall not be affected by the amendments made by Acts 1945, c.175.
(b) Investments made before March 6, 1945, not pursuant to the deposit investment requirements of s.147, s.148, s.149, or s.155 of Acts 1935, c.162 which did not qualify for deposit under any of these sections prior to March 6, 1945, shall be considered within the embrace of investments made under paragraph 20 of IC 27-1-12-2(b) and shall be subject to all the provisions applicable thereto.
(c) Investments described in subdivision (b) and those made pursuant to paragraph 20 of IC 27-1-12-2(b) may, provided the life insurance company so elects in a writing filed with the department, be transferred to any other appropriate paragraph of IC 27-1-12-2(b) under which they would have qualified if purchased at the date of such transfer.
Formerly: Acts 1945, c.175, s.6. As amended by P.L.252-1985, SEC.103; P.L.186-1997, SEC.8.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 22. Regulation of Insurance Rates › 27-1-22-1. Purpose

Sec. 1. The purpose of this chapter is to promote the public welfare by empowering the commissioner of insurance to regulate insurance rates to the end that they shall not be excessive, inadequate, or unfairly discriminatory, and to encourage reasonable competition among insurance companies (referred to in this chapter as insurers) and to permit and regulate, but not require, cooperative action among insurers as to rates, rating systems, rating plans and practices, and other matters within the scope of this chapter. This chapter shall be liberally interpreted to carry into effect the provisions of this section.
Formerly: Acts 1967, c.133, s.1. As amended by P.L.252-1985, SEC.104.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 22. Regulation of Insurance Rates › 27-1-22-2. Application of Act; Exceptions; "Inland Marine Insurance"

Sec. 2. (a) This chapter applies to all forms of casualty insurance including fidelity, surety, and guaranty bonds, to all forms of motor vehicle insurance, to all forms of fire, marine, and inland marine insurance, to all forms of title insurance, and to any and all combinations of the foregoing or parts thereof, on risks or operations in this state, except:
(1) reinsurance, other than joint reinsurance to the extent stated in section 14 of this chapter;
(2) accident and health insurance;
(3) insurance of vessels or craft, their cargoes, marine builders' risks, marine protection and indemnity, or other risks commonly insured under marine, as distinguished from inland marine, insurance policies;
(4) insurance against loss or damage to aircraft or against liability arising out of the ownership, maintenance, or use of aircraft; and
(5) worker's compensation insurance.
(b) Inland marine insurance includes insurance defined by statute, or by interpretation of statute, or if not so defined or interpreted, by ruling of the commissioner of insurance (referred to as the commissioner), or as established by general custom of the business, as inland marine insurance.
Formerly: Acts 1967, c.133, s.2. As amended by P.L.252-1985, SEC.105; P.L.28-1988, SEC.79; P.L.129-2003, SEC.5; P.L.80-2013, SEC.1.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 22. Regulation of Insurance Rates › 27-1-22-2.5. "Commercial Policyholder" Defined

Sec. 2.5. As used in this chapter, "commercial policyholder" means a business, nonprofit, or governmental entity that purchases a policy of commercial insurance through an insurance producer licensed under IC 27-1-15.6 or IC 27-1-15.8.
As added by P.L.268-1999, SEC.11. Amended by P.L.132-2001, SEC.6; P.L.178-2003, SEC.21; P.L.193-2006, SEC.7.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 22. Regulation of Insurance Rates › 27-1-22-3.1. Senior Citizens Participating in Motor Vehicle Accident Prevention Courses; Reduced Premiums

Sec. 3.1. (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) A motor vehicle insurance rate filed under section 4 of this chapter may provide for an appropriate reduction in premium charges for a policy if the principal operator of the motor vehicle covered under the policy:
(1) is at least fifty-five (55) years of age; and
(2) has, within three (3) years before the issuance or renewal of the policy, successfully completed a motor vehicle accident prevention course approved by the bureau of motor vehicles.
(c) A reduction in premium charges need not be provided under this section if the principal operator of the motor vehicle covered under the policy participated in the motor vehicle accident prevention course under the order of a court.
(d) This section does not prevent an insurer from withholding or rescinding the reduction in premium charges for a motor vehicle insurance policy if the principal operator of the motor vehicle covered under the policy is involved in a motor vehicle accident for which the principal operator is at fault.
As added by P.L.121-1989, SEC.11.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 22. Regulation of Insurance Rates › 27-1-22-6. Bad Faith Filing; Burden of Proof; Order to Rewrite Policies at Approved Rate

Sec. 6. (a) A "bad-faith filing", as used in this chapter, means a rate filing made by any filer who, in bad faith, files a rate which it knows, or should know, is grossly inadequate for the insurance coverage provided, and which is filed and used for the purpose of unfairly obtaining a particular risk or limited group of risks, and which is available only to such risk or limited group of risks.
(b) At any hearing conducted under this section, the burden shall be on the filer to prove that such filing is not in violation of this section. If, after such hearing, the commissioner finds that the filer has failed to prove that such filing is not in violation of this section, based on the evidence adduced at the hearing and made a part of the record, he may order all policies written under such bad-faith filing to be rewritten at an approved rate from the date of the inception of such policies of insurance, or all such policies shall be cancelled pro rata in accordance with the policy provisions.
(c) Nothing in this section shall be deemed to supersede the provisions set forth in section 24 of this chapter.
Formerly: Acts 1967, c.133, s.6. As amended by P.L.252-1985, SEC.109.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 22. Regulation of Insurance Rates › 27-1-22-7. Rate Adjustment Filing or Deviation; Effectiveness Unless Disapproved; Hearing; Approval or Disapproval

Sec. 7. (a) When a filing or deviation involving a rate adjustment depends upon a change in the relationship between the proposed rates and the anticipated production expense portion thereof from the relationship anticipated under any rates previously filed and currently in effect for the company or rating organization involved, such filing or deviation shall be subject to the provisions of subsection (b).
(b) Each filing or deviation subject to this section shall be on file for a waiting period of twenty (20) days before it becomes effective. If within such waiting period or after hearing as provided in this section, the commissioner finds that the filing or deviation does not meet the requirements of this chapter, the commissioner shall send to the insurer or rating organization which made the filing or to the insurer which filed the deviation written notice of disapproval specifying in the notice in what respects the filing or deviation fails to meet the requirements of this chapter and stating that the same shall not become effective. Such filing or deviation shall be deemed to meet the requirements of this act unless disapproved:
(1) within such waiting period; or
(2) if a hearing has been called and written notice thereof given by the commissioner during such waiting period, then within ten (10) days after the date of commencement of such hearing.
Upon the commissioner's own motion, or upon timely written request by any insurance producer or broker of the company or companies to which such filing or deviation is applicable, if such request is in good faith and states reasonable grounds, the commissioner may at any time within the waiting period call a hearing upon not less than ten (10) nor more than fifteen (15) days written notice to the company or rating organization making the filing or to the company filing the deviation. Within ten (10) days after the commencement of such hearing, the commissioner shall in writing either approve such filing or deviation or shall disapprove the same as provided in this section.
Formerly: Acts 1967, c.133, s.7. As amended by P.L.252-1985, SEC.110; P.L.178-2003, SEC.24; P.L.136-2018, SEC.166.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 22. Regulation of Insurance Rates › 27-1-22-9. Deviation From Rates; Filing; Effective Date; Termination; Public Inspection

Sec. 9. (a) In addition to any rights conferred pursuant to section 4 of this chapter any member or subscriber to a rating organization may file with commissioner a deviation from the rates, rating schedules, rating plans, rating systems, or rules respecting any kind of insurance, division, subdivision, classification, or any part or combination of any of the foregoing.
(b) Such a filing shall specify the nature and extent of the deviation and shall be accompanied by the relevant information upon which the filer supports the deviation. The commissioner shall have the right to request any additional relevant information.
(c) Such deviation shall become effective upon the date of filing by delivery or upon date of mailing by registered mail to the commissioner or on a later date specified in the filing. It shall be in effect until terminated by the filer giving notice to the commissioner of the termination of the deviation. A change in the rates, rating schedules, rating plans, rating systems, or rules to which the deviation applies shall not terminate the deviation without the consent of the insurer to which the deviation applies. Any such deviation may be terminated by the commissioner pursuant to the provisions of section 5 of this chapter and after notice and hearings as provided in section 5 of this chapter.
(d) A deviation filing and supporting information shall be open to public inspection as soon as stamped "filed" within a reasonable time after receipt by the commissioner and copies may be had by any person on request and upon the payment of a reasonable charge therefor.
Formerly: Acts 1967, c.133, s.9. As amended by P.L.252-1985, SEC.112.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 22. Regulation of Insurance Rates › 27-1-22-10. Insurers Acting in Concert

Sec. 10. Subject to and in compliance with all other provisions of this chapter, two (2) or more insurers may act in concert with each other and with others with respect to any matters within the purview of this chapter and are authorized to act in concert between or among themselves to the same extent as if they constituted a single insurer.
Formerly: Acts 1967, c.133, s.10. As amended by P.L.252-1985, SEC.113.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 22. Regulation of Insurance Rates › 27-1-22-11. Appeal to Commissioner From Act or Decision of Rating Organization; Decision and Order

Sec. 11. (a) Any subscriber which has authorized a rating organization to making filings on its behalf and any member thereof which does not wish to act under sections 4(h) and 4(i) of this chapter may appeal to the commissioner from the action or decision of such rating organization in approving or rejecting any proposed change in or addition to the filings of such rating organization and the commissioner shall, after a hearing held upon not less than ten (10) days written notice to the appellant and to such rating organization, issue an order approving the action or decision of such rating organization or directing it to give further consideration to such proposal, or, if such appeal is from the action or decision of the rating organization in rejecting a proposed addition to its filings, the commissioner may, in the event the commissioner finds that such action or decision was unreasonable, issue an order directing the rating organization to make an addition to its filings in a manner consistent with the commissioner's findings within a reasonable time after the issuance of such order.
(b) If such appeal is based upon the failure of the rating organization to make a filing on behalf of such member or subscriber which is based on a system of expense provisions which differs, in accordance with the right granted in section 3(a)(3) of this chapter from the system of expense provisions included in a filing made by the rating organization, the commissioner shall, if the commissioner grants the appeal, order the rating organization to make the requested filing for use by the appellant. In deciding such appeal the commissioner shall apply the standards set forth in section 3 of this chapter.
Formerly: Acts 1967, c.133, s.11. As amended by P.L.252-1985, SEC.114; P.L.268-1999, SEC.13; P.L.81-2012, SEC.11.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 22. Regulation of Insurance Rates › 27-1-22-12. Procedure on Complaint by Insured

Sec. 12. Any insured may, in writing, request his insurer or its rating organization to review the manner in which its filing or the filing made by a rating organization on its behalf has been applied with respect to insurance afforded him. Any such insured aggrieved by the failure or refusal of an insurer or rating organization to make such review and to grant appropriate relief within thirty (30) days after such request is received may file a written complaint and request for a hearing with the commissioner, specifying the grounds relied upon. If the complaint charges a violation of this chapter and the commissioner finds that the complaint was made in good faith and that the complainant would be aggrieved if the violation is proven, he shall hold a hearing upon not less than ten (10) days written notice to the complainant, the insurer, and the related rating organization, if any, stating the grounds of complaint. If after such hearing he finds the complaint justified, he shall order the matter complained of to be corrected within a reasonable time, but not less than twenty (20) days after a copy of his written order has been mailed to or served upon the insurer complained against.
Formerly: Acts 1967, c.133, s.12. As amended by P.L.252-1985, SEC.115.
2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 22. Regulation of Insurance Rates › 27-1-22-13. Advisory Organization; Filing and Regulation; Orders of Commissioner

Sec. 13. (a) Every group, association, or other organization of insurers, whether located within or outside this state, which assists insurers which make their own filings or rating organizations in ratemaking, by the collection and furnishing of loss or expense statistics, or by the submission of recommendations, but which does not make filings under this chapter, shall be known as an advisory organization.
(b) Every advisory organization shall file with the commissioner:
(1) a copy of its constitution, its articles of agreement or association, or its certificate of incorporation and of its bylaws, rules, and regulations governing its activities;
(2) a list of its members;
(3) the name and address of a resident of this state upon whom notices or orders of the commissioner or process issued at his direction may be served; and
(4) an agreement that the commissioner may examine such advisory organization in accordance with the provisions of section 15 of this chapter.
(c) If, after a hearing, the commissioner finds that the furnishing of such information or assistance involves any act or practice which is unfair or unreasonable or otherwise inconsistent with the provisions of this chapter, he may issue a written order specifying in what respect such act or practice is unfair or unreasonable or otherwise inconsistent with the provisions of this chapter, and requiring the discontinuance of such act or practice.
(d) No insurer which makes its own filings nor any rating organization shall support its findings by statistics or adopt ratemaking recommendations furnished to it by an advisory organization which has not complied with this section or with an order of the commissioner involving such statistics or recommendations issued under subsection (c). If the commissioner finds such insurer or rating organization to be in violation of this subsection, he may issue an order requiring the discontinuance of the violation.
Formerly: Acts 1967, c.133, s.13. As amended by P.L.252-1985, SEC.116.