20120815-IR-760120464NIA OVERVIEW: Amends 760 IAC 1-53-3 regarding standards that the commissioner may consider to determine whether an insurer might be deemed to be hazardous to the policyholders, creditors, or general publ...

TITLE 760 DEPARTMENT OF INSURANCE

Notice of Intent to Adopt a Rule LSA Document #12-464

Under IC 4-22-2-23, the Department of Insurance intends to adopt a rule concerning the following:

OVERVIEW: Amends 760 IAC 1-53-3 regarding standards that the commissioner may consider to determine whether an insurer might be deemed to be hazardous to the policyholders, creditors, or general public. Amends 760 IAC 1-53-4 regarding the commissioner's authority to make appropriate adjustments including disallowance to asset values attributable to investments in or transactions with parents, subsidiaries, or affiliates. Amends 760 IAC 1-53-5 regarding orders and hearings. Amends 760 IAC 1-53-6 regarding review of orders. Adds definitions. Makes technical corrections. Repeals 760 IAC 1-53-1. Written comments should be addressed to the Small Business Regulatory Coordinator for this rule. Statutory authority: IC 27-1-3-7.

For purposes of IC 4-22-2-28.1, the Small Business Regulatory Coordinator for this rule is:

Meggan Brumbaugh

Department of Insurance

311 West Washington Street

Suite 103

Indianapolis, IN 46204

[phone]

[e-mail]

For purposes of IC 4-22-2-28.1, the Small Business Ombudsman designated by IC 5-28-17-5 is:

Eric P. Shields

Indiana Economic Development Corporation

One North Capitol, Suite 700

Indianapolis, IN 46204

[phone]

[e-mail]

Resources available to regulated entities through the small business ombudsman include the ombudsman's duties stated in IC 5-28-17-5, specifically IC 5-28-17-5(9), investigating and attempting to resolve any matter regarding compliance by a small business with a law, rule, or policy administered by a state agency, either as a party to a proceeding or as a mediator.

Posted: 08/15/2012 by Legislative Services Agency

DIN: 20120815-IR-760120464NIA

Composed: Nov 01,2016 1:27:51AM EDT

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