§ 27-1-1-3 — Personnel

Indiana § 27-1-1-3

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 1: DEPARTMENT OF INSURANCE
• Ch. 1: Department Created

Text

The commissioner shall appoint a chief deputy,
an actuary, a securities deputy, and such other deputies, examiners,
assistants and other employees as may be necessary to carry on the
work of the department. With respect to all of such positions, aptitude,
previous training and experience, intelligence and moral and physical
qualifications shall be carefully considered and such employees shall
be chosen for their fitness, either professional or practical, as the nature
of the position may require, irrespective of their political beliefs or
affiliations; it being the responsibility of the commissioner to develop
and maintain a highly trained and effective personnel within the
insurance department. The actuary of the department shall have had at
least five (5) years experience in a responsible actuarial position in a
life or casualty insurance company, in consulting actuarial practice, or
in a comparable actuarial position in a state or federal agency;
however, only two (2) years experience of the type aforesaid shall be
required (a) if the applicant is a fellow or associate of the society of
actuaries or the casualty actuarial society, or (b) if said applicant has
completed courses in actuarial mathematics or theory in an accredited
college or university. The technical or professional qualifications of
any applicant shall be determined by examination, professional rating
or otherwise, as the commissioner shall determine. The securities
deputy and any securities clerk shall each give bond in the sum fixed
by the governor, but not less than twenty-five thousand dollars
($25,000) surety, for the faithful performance of their duties.
Formerly: Acts 1945, c.351, s.3; Acts 1959, c.351, s.2. As
amended by P.L.100-2012, SEC.63.