Sec. 37. (a) If, after the issuance of a policy, it develops that an employer is not or ceases to be in good faith entitled to compensation insurance, the carrying company which issued the policy shall have the right, upon authorization of the bureau and the worker's compensation board, to cancel the insurance in accordance with the conditions of the policy.
(b) If a policy is cancelled under the circumstances described in subsection (a), the risk shall not be assigned again by the bureau to any of its members as a carrying company until it is fully satisfied that the employer is entitled to insure as a proper rejected risk under this chapter.
(c) In the event of a cancellation under this section, the facts justifying such action shall be referred to the worker's compensation board and the department.
Formerly: Acts 1935, c.323, s.37. As amended by P.L.252-1985, SEC.245; P.L.28-1988, SEC.103.
Structure Indiana Code
Article 7. Special Types of Insurance
Chapter 2. Worker's Compensation
27-7-2-1.1. Purposes of Chapter
27-7-2-1.2. Insurers and Underwriters Subject to Chapter
27-7-2-3. Worker's Compensation Rating Bureau; Membership
27-7-2-4. Rate Filings; Notice
27-7-2-4.5. Premium or Rate Discount for Municipal Corporations or Volunteer Fire Departments
27-7-2-5. Management of Bureau
27-7-2-7. Resolution of Tie Votes
27-7-2-8. Membership in Bureau
27-7-2-9. Charges and Expenses of Bureau; Apportionment; Review
27-7-2-12. Representative of Department; Appointment; Powers and Duties
27-7-2-15. Approval of System of Schedule Rating
27-7-2-18. Exclusion of Physical Impairment of Employees in Rate Making
27-7-2-20. Adherence to Approved Rules, Forms, Plans, and Systems; Annual Reports
27-7-2-20.1. Minimum Premiums and Rates
27-7-2-20.3. Minimum Premiums or Rates; Disapproval
27-7-2-20.4. Arrangements in Restraint of Trade; Presumption; Subsidiary Companies
27-7-2-24. Appointment of Resident Agent for Service of Process
27-7-2-25. Annual License of Rating Bureau
27-7-2-27. Jurisdiction of Courts of Marion County; Review
27-7-2-28. Duty to Insure and Accept Certain Rejected Risks
27-7-2-28.2. Examination of Records; Costs
27-7-2-29. Rejected Risks; Designation of Insurer; Reinsurance
27-7-2-32. Considerations in Designating Insurer to Assume Rejected Risk; Review of Reasons
27-7-2-33. Designated Insurer Carrying Rejected Risk; Additional Inspection; Renewal Rates
27-7-2-34. Information Concerning Rejected Risks; Automatic Insurance
27-7-2-37. Cancellation of Rejected Risk Coverage; Grounds; Effect
27-7-2-37.5. Refund of Dividends, Savings, or Unabsorbed Premium Deposits
27-7-2-38. Violations; Penalties; Suspension or Revocation of License
27-7-2-39. Appointment and Compensation of Personnel; Appropriation
27-7-2-40. Confidential Data; Data Sharing With Department or Worker's Compensation Board