Indiana § 27-1-23-5.1 Supervisory college

Indiana Statutes

§ 27-1-23-5.1 — Supervisory college

Indiana § 27-1-23-5.1

Title 27INSURANCE

Art. 1DEPARTMENT OF INSURANCE

Ch. 23Regulation of Insurance Holding Company Systems

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Bluebook

Ind. Code § 27-1-23-5.1 (2026).

Text

1.

(a)The commissioner may participate in a supervisory college for a domestic insurer that is part of an insurance holding company system that has international operations, and any affiliate of the insurer, to do the following:

(1)Determine whether the insurer or affiliate is in compliance with this chapter.

(2)Assess the business strategy, financial position, legal and regulatory position, risk exposure, risk management, and governance processes that apply to the insurer or affiliate.

(3)Examine the insurer or affiliate.

(b)The powers of the commissioner under subsection (a) include the following:

(1)Initiation of the establishment of the supervisory college.

(2)Clarification of the membership and participation of other supervisors in the supervisory college.

(3)Clarification of

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1. (a) The commissioner may participate in a
supervisory college for a domestic insurer that is part of an insurance
holding company system that has international operations, and any
affiliate of the insurer, to do the following:
(1) Determine whether the insurer or affiliate is in compliance
with this chapter.
(2) Assess the business strategy, financial position, legal and
regulatory position, risk exposure, risk management, and
governance processes that apply to the insurer or affiliate.
(3) Examine the insurer or affiliate.
(b) The powers of the commissioner under subsection (a) include
the following:
(1) Initiation of the establishment of the supervisory college.
(2) Clarification of the membership and participation of other
supervisors in the supervisory college.
(3) Clarification of the functions of the supervisory college and
the role of other regulators, including the establishment of a group
wide supervisor.
(4) Coordination of the activities of the supervisory college,
including planning meetings, supervisory activities, and
information sharing procedures.
(5) Establishment of a crisis management plan.
(c) An insurer that is described in subsection (a) shall pay the
commissioner's reasonable expenses of participation in a supervisory
college, including travel expenses. The commissioner may establish a
regular assessment to the insurer for payment of the expenses.
(d) The commissioner may enter into agreements in accordance with
the requirements that apply to an agreement entered into with the NAIC
under section 6 of this chapter to specify the activities of the
commissioner and other regulators participating in the supervisory
college.
(e) This section does not delegate to a supervisory college a
commissioner's authority to regulate or supervise the insurer described
in subsection (a) or the insurer's affiliates within the commissioner's
jurisdiction.