Indiana § 27-7-2-37 Cancellation of rejected risk coverage; grounds; effect

Indiana Statutes

§ 27-7-2-37 — Cancellation of rejected risk coverage; grounds; effect

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

(a)If, after the issuance of a policy, it develops that an employer is not or ceases to be in good faith entitled to compensation insurance, the carrying company which issued the policy shall have the right, upon authorization of the bureau and the worker's compensation board, to cancel the insurance in accordance with the conditions of the policy.

(b)If a policy is cancelled under the circumstances described in subsection (a), the risk shall not be assigned again by the bureau to any of its members as a carrying company until it is fully satisfied that the employer is entitled to insure as a proper rejected risk under this chapter.

(c)In the event of a cancellation under this section, the facts justifying such action shall be referred to the worker's compensation board and the departme

Free access — add to your briefcase to read the full text and ask questions with AI

(a) If, after the issuance of a policy, it
develops that an employer is not or ceases to be in good faith entitled
to compensation insurance, the carrying company which issued the
policy shall have the right, upon authorization of the bureau and the
worker's compensation board, to cancel the insurance in accordance
with the conditions of the policy.
(b) If a policy is cancelled under the circumstances described in
subsection (a), the risk shall not be assigned again by the bureau to any
of its members as a carrying company until it is fully satisfied that the
employer is entitled to insure as a proper rejected risk under this
chapter.
(c) In the event of a cancellation under this section, the facts
justifying such action shall be referred to the worker's compensation
board and the department.
Formerly: Acts 1935, c.323, s.37. As amended by P.L.252-1985,
SEC.245; P.L.28-1988, SEC.103.

Indiana § 27-7-2-37 (Cancellation of rejected risk coverage; grounds; effect) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.