Indiana Code
Chapter 29.1. Political Subdivision Catastrophic Liability Fund
27-1-29.1-22. Assessments on Members of Fund

Sec. 22. (a) The commission shall impose an assessment to be paid by each member of the fund. The assessments to be paid by members of the fund shall be determined by the commission and must be fair to all members, in consideration of the uniform application of actuarial principles and underwriters' rating principles and in consideration of the need to pay the principal of and interest on bonds or notes issued under IC 27-1-29-17(b)(1). A member shall pay its assessment in accordance with rules of the commission.
(b) The assessment for the first twelve (12) months of a political subdivision's membership in the fund shall be no greater than the payment made by the political subdivision to a commercial insurer for like coverage for the twelve (12) month period immediately preceding the political subdivision's application to become a member. In the case of an applicant not insured by a commercial insurer, the department shall set the amount of the assessment for the first twelve (12) months of membership in accordance with subsection (a).
As added by P.L.272-1987, SEC.7.

Structure Indiana Code

Indiana Code

Title 27. Insurance

Article 1. Department of Insurance

Chapter 29.1. Political Subdivision Catastrophic Liability Fund

27-1-29.1-1. "Commission" Defined

27-1-29.1-2. "Fund" Defined

27-1-29.1-3. "Liability" Defined

27-1-29.1-4. "Member" Defined

27-1-29.1-5. "Political Subdivision" Defined

27-1-29.1-6. "Underlying Coverage" Defined

27-1-29.1-7. Establishment of Fund; Purpose; Administration; Expenses; Depositories; Investment

27-1-29.1-8. Reserve Account; Issuance of Bonds to Establish Account; Use of Funds

27-1-29.1-9. Membership Eligibility; Rights and Duties

27-1-29.1-10. Liabilities Qualifying for Partial Payment From Fund; Notice of Claim

27-1-29.1-11. Preexisting Liabilities Qualifying for Partial Payment

27-1-29.1-12. Liabilities of Members That Are or Are Not Also Members of Political Subdivision Risk Management Fund; Conditional Payment

27-1-29.1-13. Liability Partial Payment Determination; Formula

27-1-29.1-14. Excess Coverage Provided

27-1-29.1-15. Single or Installment Payments; Limits

27-1-29.1-16. Defense of Claims; Expenses

27-1-29.1-17. Biannual Recognition of Liabilities; Payment; Proration in Event of Insufficient Funds

27-1-29.1-18. Punitive Damages; Bodily Injury or Property Damage; Installment Payments; Structured Settlements

27-1-29.1-19. Notice of Intent to Become Member of Fund

27-1-29.1-20. Implementing Rules; Coverage Limitations; Commission Powers; Rules Governing Relinquishment of Membership in Fund

27-1-29.1-21. Relinquishment of Membership in Fund; Prerelinquishment Liabilities; Assessments

27-1-29.1-22. Assessments on Members of Fund