§ 27-8-31-11 — Product filing and approval

Indiana § 27-8-31-11

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 8: LIFE, ACCIDENT, AND HEALTH
• Ch. 31: Interstate Insurance Product Regulation Compact

Text

(a) Insurers and third party filers seeking to
have a product approved by the commission shall file the product with
and pay applicable filing fees to the commission. Nothing in this
chapter restricts or otherwise prevents an insurer from filing the
insurer's product with the insurance department in any state where the
insurer is licensed to conduct the business of insurance, and the filing
is subject to the laws of the states where filed.
(b) The commission shall establish appropriate filing and review
processes and procedures under commission rules and operating
procedures. Notwithstanding any provision in this chapter to the
contrary, the commission shall adopt rules to establish conditions and
procedures under which the commission will provide public access to
product filing information. In establishing any rules, the commission
shall consider the interests of the public in having access to the
information as well as protection of personal medical and financial
information and trade secrets that may be contained in a product filing
or supporting information.
(c) Any product approved by the commission may be sold or
otherwise issued in the compacting states in which the insurer is legally
authorized to do business.

Legislative History

As added by P.L.138-2005, SEC.3.