Indiana Code Title 27. Insurance § 27-1-3.5-12

Sec. 12. (a) A domestic insurer required by this chapter to file an annual audited financial report with the commissioner shall also furnish the commissioner with a written communication describing any unremediated material weaknesses (as defined in the Accounting Practices and Procedures Manual) in the domestic insurer's internal control over financial reporting as of the December 31 immediately preceding the audit (coinciding with the domestic insurer's annual audited financial report), noted during the audit.  If no unremediated material weaknesses are noted during the audit, the communication must reflect that fact.

(b) The written communication required under subsection (a) must be prepared not later than sixty (60) days after the filing of the annual audited financial report.

(c) If a description of remedial actions taken or proposed to correct unremediated material weaknesses described under subsection (a) is not provided by the independent auditor, the domestic insurer shall provide a description of the remedial actions.