IN HB1063

Allows accident and sickness insurers licensed in other states (but not Indiana) to sell individual health insurance policies to Indiana residents without complying with Indiana insurance laws, effective July 1, 2011

Out-of-state insurers must be licensed in a state with an insurance department accredited by the National Association of Insurance Commissioners' Financial Regulation Standards and Accreditation Program

Grants the Indiana Insurance Commissioner authority to conduct market conduct and solvency examinations of out-of-state insurers and adopt rules to review and limit premium rate changes

Requires out-of-state insurers to include bold 12-point notices warning consumers that the policy is governed by another state's laws, may have different rating laws resulting in premium increases, and may provide fewer mandated health benefits than Indiana-approved policies