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Notice of Intent to Adopt a Rule
LSA Document #21-519

Under IC 4-22-2-23, the Department of Insurance intends to adopt a rule concerning the following:

OVERVIEW: Amends 760 IAC 1-56-7 regarding reinsurers maintaining trust funds. Amends 760 IAC 1-56-7.5 regarding certified reinsurer requirements. Adds 760 IAC 1-56-7.8 regarding reciprocal jurisdictions. Amends 760 IAC 1-56-8 regarding credit for reinsurance required by law. Amends 760 IAC 1-56-9 regarding reduction from liability for reinsurance ceded to an unauthorized assuming insurer. Amends 760 IAC 1-56-10 regarding trust agreements. Amends 760 IAC 1-56-13 regarding reinsurance contracts. Adds 760 IAC 1-56-17 concerning certificates of reinsurers domiciled in reciprocal jurisdictions. Makes numerous technical changes. Effective 30 days after filing with the Publisher. Written comments should be addressed to the Small Business Regulatory Coordinator for this rule. Statutory authority: IC 27-6-10.1-5.

For purposes of IC 4-22-2-28.1, the Small Business Regulatory Coordinator for this rule is:
Max Simpkins
Indiana Department of Insurance
311 West Washington Street, Suite 103
Indianapolis, IN 46204
(317) 232-2403

For purposes of IC 4-22-2-28.1, the Small Business Ombudsman designated by IC 5-28-17-6 is:
Greg Lannan
Small Business Ombudsman
Indiana Economic Development Corporation
One North Capitol, Suite 700
Indianapolis, IN 46204
(317) 601-8892
Resources available to regulated entities through the small business ombudsman include the ombudsman's duties stated in IC 5-28-17-6, specifically IC 5-28-17-6(9), investigating and attempting to resolve any matter regarding compliance by a small business with a law, rule, or policy administered by a state agency, either as a party to a proceeding or as a mediator.

Posted: 12/08/2021 by Legislative Services Agency

DIN: 20211208-IR-760210519NIA
Composed: Mar 27,2023 4:25:56PM EDT
A PDF version of this document.