Indiana § 27-8-5-17 Exceptions; discretionary groups; group accident and sickness
insurance

Indiana Statutes

§ 27-8-5-17 — Exceptions; discretionary groups; group accident and sickness insurance

Indiana·Title 27 INSURANCE·Art. 8 LIFE, ACCIDENT, AND HEALTH·Ch. 5 Accident and Sickness Insurance─Policy Provisions

(a)A group accident and sickness insurance policy shall not be delivered or issued for delivery in Indiana to a group that is not described in section 16(1)(A), 16(2)(A), 16(3)(A), 16(4)(A), 16(5)(A), 16(6)(A), 16(7), or 16(8) of this chapter unless:

(1)the group applies to the commissioner for approval as a discretionary group;

(2)the commissioner reviews the group according to the same standards as a group described in section 16 of this chapter; and

(3)the commissioner finds that:

(A)the issuance of the policy is not contrary to the best interest of the public;

(B)the issuance of the policy would result in economies of acquisition or administration; and

(C)the benefits of the policy are reasonable in relation to the premiums charged.

(b)Except as otherwise provided in this chapt

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(a) A group accident and sickness insurance
policy shall not be delivered or issued for delivery in Indiana to a group
that is not described in section 16(1)(A), 16(2)(A), 16(3)(A), 16(4)(A),
16(5)(A), 16(6)(A), 16(7), or 16(8) of this chapter unless:
(1) the group applies to the commissioner for approval as a
discretionary group;
(2) the commissioner reviews the group according to the same
standards as a group described in section 16 of this chapter; and
(3) the commissioner finds that:
(A) the issuance of the policy is not contrary to the best interest
of the public;
(B) the issuance of the policy would result in economies of
acquisition or administration; and
(C) the benefits of the policy are reasonable in relation to the
premiums charged.
(b) Except as otherwise provided in this chapter, an insurer may
exclude or limit the coverage under a policy described in subsection (a)
on any person as to whom evidence of individual insurability is not
satisfactory to the insurer.

Indiana § 27-8-5-17 (Exceptions; discretionary groups; group accident and sickness insurance) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

As added by P.L.257-1985, SEC.3. Amended by P.L.268-1987, SEC.2; P.L.125-1992, SEC.2; P.L.185-1996, SEC.13; P.L.218-2007, SEC.47; P.L.11-2011, SEC.31.