§ 27-8-8-6.2 — Member protesting assessment

Indiana § 27-8-8-6.2

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 8: LIFE, ACCIDENT, AND HEALTH
• Ch. 8: Indiana Life and Health Insurance Guaranty Association

Text

2. (a) A member insurer that wishes to protest
all or part of an assessment made under section 6 of this chapter shall
pay when due the full amount of the assessment as set forth in the
notice provided by the association. The payment is available to meet
association obligations during the pendency of the protest or a
subsequent appeal. Payment must be accompanied by a statement in
writing that the payment is made under protest and set forth a brief
statement of the grounds for the protest.
(b) Not more than sixty (60) days after the payment of an
assessment under protest by a member insurer, the association shall
notify the member insurer in writing of the association's determination
with respect to the protest (unless the association notifies the member
insurer that additional time is required to resolve the issues raised by
the protest).
(c) Not more than sixty (60) days after receipt of notice of the
association's determination with respect to a protest, the protesting
member insurer may appeal the determination to the commissioner.
(d) Instead of making a determination with respect to a protest based
on a question regarding the assessment base, the association may refer
the protest to the commissioner for a determination, with or without a
recommendation from the association.
(e) If a protest of an assessment is upheld, the amount paid by the
protesting member insurer in error or excess must be returned to the
member insurer. Interest on a refund due to a protesting member
insurer must be paid at the rate actually earned by the association.

Legislative History

As added by P.L.193-2006, SEC.19.