TITLE 760 DEPARTMENT OF INSURANCE

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

msimpkins@idoi.in.gov

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

glannan@iedc.in.gov

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.

DIN: 20211208-IR-760210519NIA

Composed: Apr 24,2024 5:37:42AM EDT

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