Sec. 13.5. (a) This section applies only to the following:
(1) A group policy of accident and sickness insurance, as defined in IC 27-8-5-1. However, this section does not apply to the types of insurance and coverage described in IC 27-8-5-2.5(a).
(2) A group health maintenance organization contract entered into under IC 27-13.
(b) Except as provided in subsection (e), an insurer that issues an insurance policy or a health maintenance organization that enters into a health maintenance organization contract shall disclose to the policyholder or subscriber in a separate written notification:
(1) any commission, service fee, or brokerage fee that has been or will be paid to an insurance producer for selling, soliciting, or negotiating the policy or contract; and
(2) whether the amount disclosed under subdivision (1) is based on a percentage of total plan premiums or a flat per member fee.
(c) An insurer or health maintenance organization shall provide a copy of the written notification described in subsection (b) to the policyholder or subscriber:
(1) when the insurance policy is issued or the contract is entered into; and
(2) each time the insurance policy or contract is renewed.
(d) Each copy of a written notification described in subsection (b) must include a signature line on which the policyholder may sign to acknowledge receiving the written notification.
(e) This section does not require the disclosure to the policyholder of a commission, service fee, or brokerage fee in connection with the issuance of an insurance policy if a federal law or regulation requires disclosure of the commission, service fee, or brokerage fee to the policyholder.
As added by P.L.50-2020, SEC.4.
Structure Indiana Code
Article 1. Department of Insurance
Chapter 15.6. Insurance Producers
27-1-15.6-1. Applicability of Chapter
27-1-15.6-3. Required Licensing
27-1-15.6-4. Insurance Producer License; When Not Required
27-1-15.6-5. Licensing Examination
27-1-15.6-6. Application for Resident Insurance Producer
27-1-15.6-7. Insurance Producer Licenses; Qualifications; Expiration; Renewal; Registry
27-1-15.6-7.3. Insurance Producer Frameable Certificates
27-1-15.6-8. Nonresident Producer License
27-1-15.6-8.2. Designated Home State License
27-1-15.6-9. Prelicensing Education; Exemptions
27-1-15.6-10. Use of Assumed Name
27-1-15.6-11. Temporary Insurance Producer License
27-1-15.6-13. No Consideration Given to Unlicensed Sellers
27-1-15.6-14. Insurance Producer Acting as Agent of Insurer
27-1-15.6-15. Notification of Termination
27-1-15.6-16. Nonresident License Applicant With License From Other State
27-1-15.6-17. Reports of Administrative Actions or Criminal Prosecutions Against Producers
27-1-15.6-18. Issuance of Limited Lines Producer's License Without Examination
27-1-15.6-19. Prearranged Funeral Insurance
27-1-15.6-19.5. Annuities; Insurance Producer Qualifications and Training
27-1-15.6-19.9. Travel Insurance; Limited Lines Travel Insurance Producer License; Requirements
27-1-15.6-20. Crop Hail Insurance
27-1-15.6-21. Service of Process
27-1-15.6-22. Compensation; Restrictions
27-1-15.6-23. Insurance Consultant License
27-1-15.6-24. Commercial Property and Casualty Insurance
27-1-15.6-24.1. Personal Property and Casualty Fees
27-1-15.6-25. Representation of a Fraternal Benefit Society
27-1-15.6-26. Limited Lines Producer
27-1-15.6-27. Solicitor's License
27-1-15.6-28. Suspension of License
27-1-15.6-29.5. Determination of Suspension or Revocation of License
27-1-15.6-30. Authority to Enforce Compliance
27-1-15.6-31. Producers Not to Be Named as Beneficiaries