Indiana § 27-6-1.1-2 Indemnity reinsurance; ceding agreements

Indiana Statutes

§ 27-6-1.1-2 — Indemnity reinsurance; ceding agreements

Indiana § 27-6-1.1-2

Title 27INSURANCE

Art. 6REINSURANCE; INTERINSURANCE;

Ch. 1.1Reinsurance

This text of Indiana § 27-6-1.1-2 (Indemnity reinsurance; ceding agreements) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 27-6-1.1-2 (2026).

Text

(a)A domestic insurer may cede indemnity reinsurance to any insurer authorized to do business in this state, in any other state of the United States, or in the District of Columbia, or to any alien insurer.

(b)A domestic ceding insurer must file with the commissioner for approval any proposed agreement that would cede indemnity reinsurance of previously retained insurance if the reserves and other liabilities with respect to previously retained insurance that are transferred by the insurer under the proposed agreement and under all other agreements that cede previously retained insurance exceed twenty-five percent (25%) of the total reserves and other liabilities of the domestic ceding insurer. As used in this subsection, "previously retained insurance" means insurance issued before the

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(a) A domestic insurer may cede indemnity
reinsurance to any insurer authorized to do business in this state, in any
other state of the United States, or in the District of Columbia, or to any
alien insurer.
(b) A domestic ceding insurer must file with the commissioner for
approval any proposed agreement that would cede indemnity
reinsurance of previously retained insurance if the reserves and other
liabilities with respect to previously retained insurance that are
transferred by the insurer under the proposed agreement and under all
other agreements that cede previously retained insurance exceed
twenty-five percent (25%) of the total reserves and other liabilities of
the domestic ceding insurer. As used in this subsection, "previously
retained insurance" means insurance issued before the date of
reinsurance and not previously reinsured.
(c) Any agreement that is filed as provided in subsection (b) shall
be deemed approved unless the commissioner notifies the insurer
within thirty (30) days after submission of an intent to hold a hearing
in accordance with section 4 of this chapter.
(d) A transaction of indemnity reinsurance does not create any legal
right or relation between the insured, beneficiary, or policyholder and
the accepting insurer.