Indiana § 27-1-22-1 Purpose

Indiana Statutes

§ 27-1-22-1 — Purpose

Indiana § 27-1-22-1

Title 27INSURANCE

Art. 1DEPARTMENT OF INSURANCE

Ch. 22Regulation of Insurance Rates

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Bluebook

Ind. Code § 27-1-22-1 (2026).

Text

The purpose of this chapter is to promote the
public welfare by empowering the commissioner of insurance to
regulate insurance rates to the end that they shall not be excessive,
inadequate, or unfairly discriminatory, and to encourage reasonable
competition among insurance companies (referred to in this chapter as
insurers) and to permit and regulate, but not require, cooperative action
among insurers as to rates, rating systems, rating plans and practices,
and other matters within the scope of this chapter. This chapter shall be
liberally interpreted to carry into effect the provisions of this section.
Formerly: Acts 1967, c.133, s.1. As amended by P.L.252-1985,
SEC.104.

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The purpose of this chapter is to promote the
public welfare by empowering the commissioner of insurance to
regulate insurance rates to the end that they shall not be excessive,
inadequate, or unfairly discriminatory, and to encourage reasonable
competition among insurance companies (referred to in this chapter as
insurers) and to permit and regulate, but not require, cooperative action
among insurers as to rates, rating systems, rating plans and practices,
and other matters within the scope of this chapter. This chapter shall be
liberally interpreted to carry into effect the provisions of this section.
Formerly: Acts 1967, c.133, s.1. As amended by P.L.252-1985,
SEC.104.