§ 27-1-4.5-7 — Fine for noncompliance; disciplinary action for repeated noncompliance

Indiana § 27-1-4.5-7

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 1: DEPARTMENT OF INSURANCE
• Ch. 4.5: Disclosure of Ownership Information

Text

(a) The department may assess:
(1) an insurer;
(2) a third party administrator; or
(3) a pharmacy benefit manager;
that violates section 5 of this chapter a fine of one thousand dollars
($1,000) per day for which the report is past due.
(b) A fine under this section shall be deposited into the payer
affordability penalty fund established by IC 12-15-1-18.5.
(c) The department may waive a fine assessed under this section.
(d) The department may take disciplinary action against:
(1) an insurer;
(2) a third party administrator; or
(3) a pharmacy benefit manager;
that is licensed under this title for repeated violations of section 5 of
this chapter.

Legislative History

As added by P.L.239-2025, SEC.11.