Sec. 10. (a) Premiums for mine subsidence insurance under this chapter shall be established by the commissioner, who shall review at least annually the premium level and the experience data concerning operation of the fund and make changes in the premiums as required.
(b) Premiums shall be established at a rate or within a schedule of rates sufficient to:
(1) satisfy all foreseeable claims on the mine subsidence insurance fund during the period of coverage, giving due consideration to relevant loss or claims experience or trends;
(2) cover normal costs of operation of the mine subsidence insurance fund; and
(3) provide a reasonable reserve fund for unexpected contingencies.
(c) Deviations from the premium level or premiums set by the commissioner may not be allowed.
As added by P.L.164-1986, SEC.1.
Structure Indiana Code
Article 7. Special Types of Insurance
Chapter 9. Mine Subsidence Insurance
27-7-9-5.4. "Type of Insurance Described in Class 3(a) of Ic 27-1-5-1"
27-7-9-6. List of Counties in Which Mine Subsidence Insurance Available
27-7-9-7. Mine Subsidence Insurance Fund; Deposits; Investment
27-7-9-8. Extent of Coverage Necessary; Deductible
27-7-9-8.4. Additional Forms of Coverage; Application to Structures
27-7-9-9. Reinsurance; Terms; Ceding Commission
27-7-9-9.5. Assistance With Adjusting of Claims; Responsibility of Insurer; Costs Paid From Fund
27-7-9-11. Report to Commissioner
27-7-9-12. Payment to Insurer Upon Receipt of Loss Report
27-7-9-14. Subrogation Rights; Reports
27-7-9-15. Recourse Against Insurer or Policyholder; Fraud or Policy Violations
27-7-9-16. Delegation of Powers