§ 27-1-39-7 — Establishing self-insurance consortium and trust

Indiana § 27-1-39-7

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 1: DEPARTMENT OF INSURANCE
• Ch. 39: Independent Educational Institution Self-Insurance

Text

(a) Notwithstanding any other law, two (2) or
more independent postsecondary educational institutions may establish
a trust under Indiana law to establish and maintain a self-insurance
consortium through which the independent educational institutions
jointly maintain a self-insurance fund to cover certain retained risks
and jointly purchase stop-loss insurance coverage. The coverage for
retained risks or stop-loss insurance coverage provided for through the
trust may include any of the following types of coverage:
(1) Property and casualty coverage.
(2) Worker's compensation coverage.
(3) Employee health coverage.
(4) Employee vision coverage.
(5) Employee dental coverage.
(6) Other coverage.
(b) If the coverage described in subsection (a)(3), (a)(4), or (a)(5)
is provided through the self-insurance fund, the coverage must be
provided through a multiple employer welfare arrangement regulated
under IC 27-1-34.

Legislative History

As added by P.L.38-2006, SEC.1. Amended by P.L.2-2007, SEC.354.