February 5, 2010

Representative Scott Pelath, Chairperson

Administrative Rules Oversight Committee

c/o Legislative Services Agency

200 West Washington Street, Suite 301

Indianapolis, Indiana 46204-2789

Attn: Sarah Burkman

RE: LSA Document #09-377 – Annuity Disclosure

Dear Representative Pelath:

On behalf of the Indiana Department of Insurance (Department), I am submitting this notice to the Administrative Rules Oversight Committee in compliance with IC 4-22-2-25, because the Department has determined that the promulgation of the captioned rule may not be completed within one year after publication of the Notice of Intent to Adopt a Rule. The Department published a notice of intent on June 3, 2009. The proposed rule is based upon a National Association of Insurance Commissioners (NAIC) model rule, which is currently being revised by the NAIC. The Department determined that it would be appropriate to wait until revisions to the NAIC model rule are finalized before moving forward with a proposed rule. The Department expects to publish a proposed rule by May 1, 2010, and expects to hold a public hearing by June 1, 2010. In order to provide ample time to review comments received at the public hearing and for the appropriate review times, the Department expects to have the final rule approved by September 1, 2010.

The notice setting forth the expected date of approval of LSA Document #09-377 as September 1, 2010, is being submitted in a timely manner. February 8, 2010, is the two hundred fiftieth day after publication of the Notice of Intent to Adopt a Rule.

Sincerely,

Meggan J. R. Brumbaugh

Department of Insurance