Sec. 15. A producer, before the effective date of the policy, shall deliver written notice to the prospective insured disclosing the relationship between the producer and the controlled insurer, except that, if the business is placed through a subproducer who is not a controlling producer, the controlling producer shall retain in the controlling producer's records a signed commitment from the subproducer that the subproducer is aware of the relationship between the insurer and the producer and that the subproducer has or will notify the insured.
As added by P.L.130-1994, SEC.36 and P.L.116-1994, SEC.47.
Structure Indiana Code
Article 1. Department of Insurance
Chapter 35. Business Transacted With Producer Controlled Property and Casualty Insurers
27-1-35-1. Applicability of Law
27-1-35-3. "Captive Insurer" Defined
27-1-35-4. "Control" or "Controlled" Defined
27-1-35-5. "Controlled Insurer" Defined
27-1-35-6. "Controlling Producer" Defined
27-1-35-7. "Licensed Insurer" or "Insurer" Defined
27-1-35-9. Threshold Limit of Premiums
27-1-35-10. Exempt Transactions
27-1-35-11. Written Contract Requirement
27-1-35-13. Opinions of Independent Casualty Actuaries or Independent Loss Reserve Specialists
27-1-35-15. Notice of Relationship
27-1-35-16. Orders to Cease Placing Business
27-1-35-17. Civil Actions by Commissioner