Pursuant to IC 27-6-10.1-2(E) and 760 IAC 1-56 the Commissioner shall allow credit for reinsurance ceded by a domestic insurer to an assuming insurer that has been certified as a reinsurer in this state at all times for which statutory financial statement credit for reinsurance is claimed under this section. The credit allowed shall be based upon the security held by or on behalf of the ceding insurer in accordance with a rating assigned to the certified reinsurer by the commissioner. The security shall be in a form consistent with the provisions of IC 27-6-10.1-2 and IC 27-6-10.1-3 and sections 10, 11 or 12 of 760 IAC 1-56 as described in 760 IAC 1-56-7.5. The amount of security required in order for full credit to be allowed shall correspond with the following requirements:
Financial Strength Rating granted by the Department | Minimum Amount Withheld for Full Credit |
Secure-1 | 0% |
Secure-2 | 10% |
Secure-3 | 20% |
Secure-4 | 50% |
Secure-5 | 75% |
Vulnerable-6 | 100% |
Current List of Certified Reinsurers- 2019, 2020, 2021, 2022, 2023, 2024, 2025, 2026
Public Notices of Pending Applications
Initial Filing Requirements
Full Application
Certified Reinsurer requesting Indiana to act as its “Lead State: for NAIC Reinsurance Financial Analysis (E) Working Group (ReFAWG) and passporting purposes should file a Full Application. Complete the IDOI Application Checklist for Certified Reinsurers, Form CR-1 and file all the necessary corresponding exhibits.
Passporting Application
Reinsurers with an initial certification application that has been reviewed by ReFAWG that are seeking certified reinsurer status in Indiana should file a Passporting Application. Complete the IDOI Passporting Checklist for Certified Reinsurers, Form CR-1 and file all the necessary corresponding exhibits.
Subsequent Filing Requirements
Annual Renewal Application
Certified Reinsurers that filed a Full Application in Indiana should annually complete the IDOI Application Checklist for Certified Reinsurers, Form CR-1 and file all the necessary corresponding exhibits.
Annual Passporting Application
Certified Reinsurers that filed a Passporting Application in Indiana should annually file the IDOI Passporting Checklist for Certified Reinsurers, Form CR-1 and file all the necessary corresponding exhibits.
Send the requested documents electronically to: fnclsvcs@idoi.in.gov and adenton@idoi.in.gov
Questions should be addressed to:
Amanda Denton
Manager of Internal Analysis
adenton@idoi.in.gov