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Indiana Code Title 27. Insurance § 27-1-20-33

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 33. (a) As used in this section, “insurer” refers to each:

(1) domestic company;

(2) foreign company;  and

(3) alien company;

that is authorized to transact business in Indiana.

(b) On or before March 1 of each year, an insurer shall file with the NAIC and with the department a copy of the insurer's Annual Statement Blank and additional filings prescribed by the commissioner for the preceding year.  An insurer shall also file quarterly statements with the NAIC and with the department on or before May 15, August 15, and November 15 of each year in a form prescribed by the commissioner.  The information filed with the NAIC under this subsection:

(1) must be:

(A) in the same format;  and

(B) of the same scope;

as is required by the commissioner under section 21 of this chapter;

(2) to the extent required by the NAIC, must include the signed jurat page and the actuarial certification;  and

(3) must be filed electronically in accordance with NAIC electronic filing specifications.

The commissioner may grant an exemption from the requirement of subdivision (3) to domestic companies that operate only in Indiana.  If an insurer files any amendment or addendum to an insurer's Annual Statement Blank or quarterly statement with the commissioner, the insurer shall also file a copy of the amendment or addendum with the NAIC.  Annual and quarterly financial statements are deemed filed with the NAIC when delivered to the address designated by the NAIC for the filings regardless of whether the filing is accompanied by any applicable fee.

(c) The commissioner may, for good cause, grant an insurer an extension of time for the filing required by subsection (b).

(d) A foreign company that:

(1) is domiciled in a state that has a law substantially similar to subsection (b);  and

(2) complies with that law;

shall be considered to be in compliance with this section.

(e) In the absence of actual malice:

(1) members of the NAIC;

(2) duly authorized committees, subcommittees, and task forces of members of the NAIC;

(3) delegates of members of the NAIC;

(4) employees of the NAIC;  and

(5) other persons responsible for collecting, reviewing, analyzing, and disseminating information developed from the filing of Annual Statement Blanks under this section;

shall be considered to be acting as agents of the commissioner under the authority of this section and are not subject to civil liability for libel, slander, or any other cause of action by virtue of the collection, review, analysis, or dissemination of the data and information collected from the filings required by this section.

(f) The commissioner may suspend, revoke, or refuse to renew the certificate of authority of an insurer that fails to file the insurer's Annual Statement Blank or quarterly statements with the NAIC or with the department within the time allowed by subsection (b) or (c).

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Cite this article: FindLaw.com - Indiana Code Title 27. Insurance § 27-1-20-33 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-27-insurance/in-code-sect-27-1-20-33/

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