Sec. 16. (a) A farm mutual insurance company may not deliver or issue for delivery an insurance policy or an endorsement or a rider to an insurance policy until a copy of the form and the rates charged for the insurance policy are filed with the commissioner.
(b) A farm mutual insurance company may use any form or rate filed with the commissioner unless the commissioner notifies the farm mutual insurance company in writing that the form is disapproved not more than thirty (30) days after the commissioner's receipt of the rate or form filing. The commissioner may disapprove a rate or form for the following reasons:
(1) An inconsistency with this article or another applicable state law.
(2) A provision that is:
(A) deceptive;
(B) ambiguous; or
(C) misleading.
(c) If the commissioner disapproves a rate or form under this section, the commissioner shall notify the farm mutual insurance company of the reason that the rate or form was disapproved. The farm mutual insurance company may request a hearing before the commissioner under IC 4-21.5 concerning the disapproval.
(d) A farm mutual insurance company may seek judicial review under IC 4-21.5-5 of the commissioner's final disapproval of a rate or form under this section.
(e) The commissioner may charge a farm mutual insurance company a reasonable fee as provided in IC 27-1-3-15 for the filing of a rate or form.
As added by P.L.129-2003, SEC.8.
Structure Indiana Code
Article 5.1. Farm Mutual Insurance Companies
Chapter 2. Farm Mutual Insurance Companies
27-5.1-2-0.1. Application of Certain Amendments to Chapter
27-5.1-2-2. Farm Mutual Insurance Companies Existing on June 30, 2003
27-5.1-2-3. Proposed Farm Mutual Insurance Companies; Application for Certificate of Authority
27-5.1-2-4. Proposed Farm Mutual Insurance Company Requirements for Certificate of Authority
27-5.1-2-6. Exclusion of Companies
27-5.1-2-7. Exemption From Indiana Insurance Laws
27-5.1-2-8. Application of Indiana Insurance Laws
27-5.1-2-9. Location of Insurance Business
27-5.1-2-10. Annual Policyholder Meeting
27-5.1-2-11. Board of Directors
27-5.1-2-12. Election of Director; Term of Office; Election of Officers; Annual Board Meeting
27-5.1-2-13. Articles of Incorporation; Amendment
27-5.1-2-14. Bylaws; Amendment
27-5.1-2-15. Commissioner Filing Fee
27-5.1-2-16. Form and Rate Filing File and Use; Commissioner Disapproval; Judicial Review
27-5.1-2-17. Commissioner Examination
27-5.1-2-19. Application for Coverage; Policyholder Status
27-5.1-2-20. Insurance Producers
27-5.1-2-21. Merger; Plan; Policyholder Notice
27-5.1-2-23. Merger Plan Performance; Surviving Company
27-5.1-2-24. Certificate of Merger
27-5.1-2-26. Violations of Law; Commissioner Orders
27-5.1-2-28. Willful Violation; Penalties
27-5.1-2-29. Notice of Intent to Waive Term of Policy, Right, or Defense
27-5.1-2-30. Premium Plus Assessment Basis; Policyholder Liability
27-5.1-2-31. Assessment Collection; Verification of Loss
27-5.1-2-32. Policyholder Failure to Pay Assessment
27-5.1-2-33. Policyholder Liability After Policy Termination
27-5.1-2-34. Notice of Premium Plus Assessment Policy; Civil Actions; Limitation
27-5.1-2-35. Payment of Losses and Judgments; Insufficient Funds; Assessments
27-5.1-2-36. Borrowing Funds; Assessment
27-5.1-2-37. Policy Cancellation; Notice
27-5.1-2-38. Discontinuation of Company
27-5.1-2-39. Misconduct; Penalty
27-5.1-2-40. Investment Gain; Policyholder Surplus
27-5.1-2-41. Election to Be Subject to Indiana Insurance Law
27-5.1-2-42. Exemption From Regulation