§ 27-7-2-1.1 — Purposes of chapter

Indiana § 27-7-2-1.1

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 7: SPECIAL TYPES OF INSURANCE
• Ch. 2: Worker's Compensation

Text

1. The purposes of this chapter are as follows:
(1) To prohibit price fixing agreements and other anticompetitive
behavior by companies.
(2) To protect policyholders and the public against the adverse
effects of excessive, inadequate, or unfairly discriminatory rates.
(3) To promote price competition among companies so as to
provide rates that are responsive to competitive market
conditions.
(4) To provide regulatory procedures for the maintenance of
appropriate data reporting systems.
(5) To improve availability, fairness, and reliability of insurance.
(6) To authorize essential cooperative action among companies in
the ratemaking process and to regulate such activity to prevent
practices that tend to substantially lessen competition or create a
monopoly.
(7) To encourage the most efficient and economic marketing
practices.

Legislative History

As added by P.L.249-1989, SEC.1.