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Indiana Code Title 27. Insurance § 27-7-9-10

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

Sec. 10. (a) Premiums for mine subsidence insurance under this chapter shall be established by the commissioner, who shall review at least annually the premium level and the experience data concerning operation of the fund and make changes in the premiums as required.

(b) Premiums shall be established at a rate or within a schedule of rates sufficient to:

(1) satisfy all foreseeable claims on the mine subsidence insurance fund during the period of coverage, giving due consideration to relevant loss or claims experience or trends;

(2) cover normal costs of operation of the mine subsidence insurance fund;  and

(3) provide a reasonable reserve fund for unexpected contingencies.

(c) Deviations from the premium level or premiums set by the commissioner may not be allowed.

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Cite this article: FindLaw.com - Indiana Code Title 27. Insurance § 27-7-9-10 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-27-insurance/in-code-sect-27-7-9-10/

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