27-6-10.1-5. Rules and Regulations
Sec. 5. Rules and Regulations. A. The insurance commissioner may adopt rules and regulations under IC 4-22-2 implementing the provisions of this chapter. B. The insurance commissioner is further authorized to adopt rules and regulations under IC 4-22-2 applicable to reinsurance arrangements described in Paragraph (1) of this subsection. (1) A regulation adopted pursuant to […]
27-6-10.1-6. Applicability of Chapter
Sec. 6. Reinsurance Agreements Affected. This chapter shall apply to all cessions after June 30, 2020, under reinsurance agreements that have an inception, anniversary, or renewal date not less than six (6) months after July 1, 2020. As added by P.L.130-2020, SEC.12.
27-6-10.1-1. Purpose of Chapter
Sec. 1. (a) The purpose of this chapter is to protect the interest of insureds, claimants, ceding insurers, assuming insurers, and the public generally. (b) The general assembly declares that its intent is to ensure adequate regulation of insurers and reinsurers and adequate protection for those to whom they owe obligations. In furtherance of that […]
27-6-10.1-2. Credit Allowed a Domestic Ceding Insurer
Sec. 2. Credit Allowed a Domestic Ceding Insurer. Credit for reinsurance shall be allowed a domestic ceding insurer as either an asset or a reduction from liability on account of reinsurance ceded only when the reinsurer meets the requirements of Subsection A, B, C, D, E, F, or G; provided further, that the insurance commissioner […]
27-6-10.1-3. Reinsurance Ceded to an Assuming Insurer Not Meeting Statutory Requirements
Sec. 3. Asset or Reduction from Liability for Reinsurance Ceded by a Domestic Insurer to an Assuming Insurer not Meeting the Requirements of Section 2 of this chapter. An asset or a reduction from liability for the reinsurance ceded by a domestic insurer to an assuming insurer not meeting the requirements of Section 2 of […]
27-6-10.1-4. “Qualified u.s. Financial Institution”
Sec. 4. Qualified U.S. Financial Institutions A. For purposes of Section 3C of this chapter, a “qualified U.S. financial institution” means an institution that: (1) is organized or (in the case of a U.S. office of a foreign banking organization) licensed, under the laws of the United States or any state thereof; (2) is regulated, […]