Indiana Code
Chapter 8. Indiana Life and Health Insurance Guaranty Association Law
27-8-8-8. Powers and Duties of Commissioner; Appeals to Commissioner; Notice of Effect of Chapter

Sec. 8. (a) The commissioner shall do the following:
(1) Upon request of the board, provide the association with a statement of the premiums in Indiana and other appropriate states for each member insurer.
(2) When an impairment is declared and the amount of the impairment is determined, serve a demand on the impaired insurer to make good the impairment within a reasonable time. Notice to the impaired insurer shall constitute notice to its shareholders. The failure of the impaired insurer to promptly comply with the demand shall not excuse the association from the performance of its powers and duties under this chapter.
(3) In any liquidation or rehabilitation proceeding involving a domestic insurer, be appointed as the liquidator or rehabilitator.
(b) The commissioner may suspend or revoke, after notice and hearing, the certificate of authority to transact insurance in Indiana of a member insurer that fails to pay an assessment when due or fails to comply with the plan of operation. As an alternative, the commissioner may levy a forfeiture on a member insurer that fails to pay an assessment when due. A forfeiture shall not exceed five percent (5%) of the unpaid assessment per month, but no forfeiture shall be less than one hundred dollars ($100) per month.
(c) A final action of the association or the board may be appealed to the commissioner by a member insurer if the appeal is taken within sixty (60) days of the member insurer's receipt of notice of the final action being appealed. A final action or order of the commissioner is subject to judicial review in a court with jurisdiction in accordance with the Indiana law that applies to the actions or orders of the commissioner.
(d) The liquidator, rehabilitator, or conservator of an impaired insurer or insolvent insurer may notify all interested persons of the effect of this chapter.
As added by Acts 1978, P.L.129, SEC.3. Amended by P.L.193-2006, SEC.22; P.L.208-2018, SEC.20.

Structure Indiana Code

Indiana Code

Title 27. Insurance

Article 8. Life, Accident, and Health

Chapter 8. Indiana Life and Health Insurance Guaranty Association Law

27-8-8-0.3. Coverage Obligations Affected by Statutory Amendments; Governing Law

27-8-8-1. Repealed

27-8-8-1.5. Repealed

27-8-8-2. Definitions

27-8-8-2.1. Policy, Contract, Rider Descriptions; Plan Sponsor; Residency

27-8-8-2.3. Coverage Provided; Exclusions; Limitations

27-8-8-3. Creation of Association; Membership; Accounts; Supervision

27-8-8-4. Board of Directors

27-8-8-5. Impaired Insurers; Insolvent Insurers; Liens; Association Powers and Duties

27-8-8-5.2. Association Election to Succeed to Rights and Duties of Impaired or Insolvent Insurer; Reinsurance

27-8-8-5.4. Association Obligations to Person Entitled to Coverage

27-8-8-5.5. Venue; Appeal Bond

27-8-8-6. Assessments

27-8-8-6.2. Member Protesting Assessment

27-8-8-6.5. Association Requests for Information

27-8-8-7. Association Plan of Operation

27-8-8-8. Powers and Duties of Commissioner; Appeals to Commissioner; Notice of Effect of Chapter

27-8-8-9. Detection and Prevention of Insurer Insolvencies or Impairments; Actions of Board of Directors

27-8-8-10. Records of Board Meetings; Disclosure of Records; Association Status as Creditor; Application of Impaired or Insolvent Insurer's Assets

27-8-8-11. Distributions to Affiliates; Recovery

27-8-8-12. Examination and Regulation of Association; Financial Report

27-8-8-13. Association Tax and Fee Exemption

27-8-8-14. Liability for Performance Under Chapter

27-8-8-15. Insolvent Insurer Proceedings; Stay; Setting Aside Judgment

27-8-8-16. Recoupment of Assessments

27-8-8-16.2. Premium Surcharge or Assignment in Lieu of Credit

27-8-8-17. Refunds From Association

27-8-8-18. Advertising Referring to Association; Association Summary Document