Indiana § 27-6-10.1-5 Rules and regulations

Indiana Statutes

§ 27-6-10.1-5 — Rules and regulations

Indiana § 27-6-10.1-5

Title 27INSURANCE

Art. 6REINSURANCE; INTERINSURANCE;

Ch. 10.1Credit for Reinsurance

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Bluebook

Ind. Code § 27-6-10.1-5 (2026).

Text

Rules and Regulations. A. The insurance commissioner may adopt rules and regulations under IC 4-22-2 implementing the provisions of this chapter. B. The insurance commissioner is further authorized to adopt rules and regulations under IC 4-22-2 applicable to reinsurance arrangements described in Paragraph (1) of this subsection.

(1)A regulation adopted pursuant to this subsection may apply only to reinsurance relating to:

(a)life insurance policies with guaranteed nonlevel gross premiums or guaranteed nonlevel benefits;

(b)universal life insurance policies with provisions resulting in the ability of a policyholder to keep a policy in force over a secondary guarantee period;

(c)variable annuities with guaranteed death or living benefits;

(d)long term care insurance policies; or

(e)suc

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Rules and Regulations.
A. The insurance commissioner may adopt rules and regulations
under IC 4-22-2 implementing the provisions of this chapter.
B. The insurance commissioner is further authorized to adopt
rules and regulations under IC 4-22-2 applicable to reinsurance
arrangements described in Paragraph (1) of this subsection.
(1) A regulation adopted pursuant to this subsection may apply
only to reinsurance relating to:
(a) life insurance policies with guaranteed nonlevel gross
premiums or guaranteed nonlevel benefits;
(b) universal life insurance policies with provisions resulting in
the ability of a policyholder to keep a policy in force over a
secondary guarantee period;
(c) variable annuities with guaranteed death or living benefits;
(d) long term care insurance policies; or
(e) such other life and health insurance and annuity products as
to which the NAIC adopts model regulatory requirements with
respect to credit for reinsurance.
(2) A regulation adopted pursuant to Paragraph 1(a) or 1(b) of this
subsection may apply to any treaty containing: (i) policies issued
on or after January 1, 2015; and/or (ii) policies issued prior to
January 1, 2015, if risk pertaining to such pre-2015 policies is
ceded in connection with the treaty, in whole or in part, on or after
January 1, 2015.
(3) A regulation adopted pursuant to this subsection may require
the ceding insurer, in calculating the amounts or forms of security
required to be held under regulations promulgated under this
authority, to use the Valuation Manual adopted by the NAIC
under Section 11B(1) of the NAIC Standard Valuation Law,
including all amendments adopted by the NAIC and in effect on
the date as of which the calculation is made, to the extent
applicable.
(4) A regulation adopted pursuant to this subsection shall not
apply to cessions to an assuming insurer that:
(a) meets the conditions set forth in Section 2F of this chapter
in Indiana;
(b) is certified in Indiana; or
(c) maintains at least two hundred fifty million dollars
($250,000,000) in capital and surplus when determined in
accordance with the NAIC Accounting Practices and
Procedures Manual, including all amendments thereto adopted
by the NAIC, excluding the impact of any permitted or
prescribed practices; and is:
(i) licensed in at least twenty-six (26) states; or
(ii) licensed in at least ten (10) states, and licensed or
accredited in a total of at least thirty-five (35) states.
(5) The authority to adopt regulations pursuant to this subsection
does not limit the insurance commissioner's general authority to
adopt regulations pursuant to Subsection A.