Indiana § 27-7-2-28.1 Assigned risk plan; administration; filing; approval; modification or
elimination by general assembly

Indiana Statutes

§ 27-7-2-28.1 — Assigned risk plan; administration; filing; approval; modification or elimination by general assembly

Indiana § 27-7-2-28.1

Title 27INSURANCE

Art. 7SPECIAL TYPES OF INSURANCE

Ch. 2Worker's Compensation

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Bluebook

Ind. Code § 27-7-2-28.1 (2026).

Text

1.

(a)The assigned risk plan is established.

(b)The bureau shall administer the assigned risk plan with the commissioner's approval.

(c)All companies authorized to write worker's compensation insurance shall participate in the assigned risk plan providing for the equitable apportionment among them of insurance that may be afforded to applicants who are in good faith entitled to but who are unable to procure such insurance through ordinary methods. The bureau shall file, at least thirty (30) days before their effective date, the plan of operation, rates, rating plans, rules, policy forms, and any future modifications thereof, with the commissioner for approval. Such rates shall reflect experience in the assigned risk plan to the extent it is actuarially appropriate. The rates must reflec

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1. (a) The assigned risk plan is established.
(b) The bureau shall administer the assigned risk plan with the
commissioner's approval.
(c) All companies authorized to write worker's compensation
insurance shall participate in the assigned risk plan providing for the
equitable apportionment among them of insurance that may be afforded
to applicants who are in good faith entitled to but who are unable to
procure such insurance through ordinary methods. The bureau shall
file, at least thirty (30) days before their effective date, the plan of
operation, rates, rating plans, rules, policy forms, and any future
modifications thereof, with the commissioner for approval. Such rates
shall reflect experience in the assigned risk plan to the extent it is
actuarially appropriate. The rates must reflect the varied categories of
rejected risks covered by the assigned risk plan and must include at
least two (2) rating plans, one (1) of which may not exceed the
recommended minimum premiums and rates filed by the bureau under
section 4 of this chapter.
(d) The commissioner shall disapprove any filing that does not meet
the requirements of section 20.1 of this chapter. A filing shall be
deemed to meet such requirements unless disapproved by the
commissioner within thirty (30) days after the filing is made. In
disapproving a filing made under this section, the commissioner shall
have the same authority and follow the same procedure as in
disapproving a filing under section 20.3 of this chapter.
(e) The assigned risk plan may be substantially modified or
eliminated only as the general assembly provides by statute.