Indiana § 27-7-9-10 Premiums

Indiana Statutes

§ 27-7-9-10 — Premiums

Indiana·Title 27 INSURANCE·Art. 7 SPECIAL TYPES OF INSURANCE·Ch. 9 Mine Subsidence Insurance

(a)Premiums for mine subsidence insurance under this chapter shall be established by the commissioner, who shall review at least annually the premium level and the experience data concerning operation of the fund and make changes in the premiums as required.

(b)Premiums shall be established at a rate or within a schedule of rates sufficient to:

(1)satisfy all foreseeable claims on the mine subsidence insurance fund during the period of coverage, giving due consideration to relevant loss or claims experience or trends;

(2)cover normal costs of operation of the mine subsidence insurance fund; and

(3)provide a reasonable reserve fund for unexpected contingencies.

(c)Deviations from the premium level or premiums set by the commissioner may not be allowed.

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(a) Premiums for mine subsidence insurance
under this chapter shall be established by the commissioner, who shall
review at least annually the premium level and the experience data
concerning operation of the fund and make changes in the premiums
as required.
(b) Premiums shall be established at a rate or within a schedule of
rates sufficient to:
(1) satisfy all foreseeable claims on the mine subsidence
insurance fund during the period of coverage, giving due
consideration to relevant loss or claims experience or trends;
(2) cover normal costs of operation of the mine subsidence
insurance fund; and
(3) provide a reasonable reserve fund for unexpected
contingencies.
(c) Deviations from the premium level or premiums set by the
commissioner may not be allowed.

Indiana § 27-7-9-10 (Premiums) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.