Indiana § 27-2-28-9 Requirements applying to notice of material change

Indiana Statutes

§ 27-2-28-9 — Requirements applying to notice of material change

Indiana·Title 27 INSURANCE·Art. 2 POWERS AND DUTIES OF INSURERS·Ch. 28 Notice of Material Change

(a)A written notice provided under section 8(a)(1) or 8(c) of this chapter:

(1)must:

(A)be sufficiently clear; and

(B)use language sufficiently specific; to enable the insured to identify the basis for the insurer's decision to make the material change;

(2)must include a description of the principal factors most heavily weighed by an insurer in making a material change, listed in no particular order; and

(3)may provide a point of contact through which the insured may discuss the reasons for the material change.

(b)A statement that:

(1)the material change is based on the insurer's internal standards, policies, or models;

(2)the insured failed to achieve a particular score on the insurer's scoring system; or

(3)contains generalized terms, such as "poor credit history", "poor credit

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(a) A written notice provided under section
8(a)(1) or 8(c) of this chapter:
(1) must:
(A) be sufficiently clear; and
(B) use language sufficiently specific;
to enable the insured to identify the basis for the insurer's decision
to make the material change;
(2) must include a description of the principal factors most
heavily weighed by an insurer in making a material change, listed
in no particular order; and
(3) may provide a point of contact through which the insured may
discuss the reasons for the material change.
(b) A statement that:
(1) the material change is based on the insurer's internal
standards, policies, or models;
(2) the insured failed to achieve a particular score on the insurer's
scoring system; or
(3) contains generalized terms, such as "poor credit history",
"poor credit rating", or "poor insurance score";
does not meet the requirements set forth in subsection (a).
(c) This section does not require the disclosure of factors that are
otherwise disclosed to the insured.

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