§ 27-1-41-6 — Group eligibility requirements

Indiana § 27-1-41-6

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 1: DEPARTMENT OF INSURANCE
• Ch. 41: Group Personal Excess or Umbrella Liability Insurance

Text

(a) A group described in section 2(1) of this
chapter must meet the following requirements to be eligible to purchase
coverage under a group insurance policy:
(1) The group consists of at least ten (10) individuals who are
members.
(2) The group has been in existence for at least two (2) years.
(3) The group was formed for a purpose other than the purchase
of insurance.
(b) A group described in section 2(2) of this chapter may include
each of the following as a group member:
(1) An employee of a subsidiary or an affiliate of the employer.
(2) A retired employee of the employer.
(3) An individual business owner or proprietor who is the
employer.
(4) A partner of a partnership that is the employer.
(5) A director or retired director of the employer.
(6) A former employee, owner, proprietor, partner, or director
who purchased coverage under a group insurance policy before
leaving the position.
(7) A spouse, child, or household resident of any individual
described in subdivisions (1) through (6).
(c) A group is not eligible to purchase, and an insurer shall not
provide to the group, coverage under a group insurance policy if:
(1) the purchase of insurance is a condition of membership in the
group; or
(2) a group member is penalized by the group as a result of the
group member refusing coverage under a group insurance policy.

Legislative History

As added by P.L.32-2012, SEC.2.