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IN HB1043
Bill
Status
1/9/2012
Primary Sponsor
Timothy Brown
Click for details
AI Summary
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Permits accident and sickness insurers licensed in other states (but not Indiana) to sell individual health insurance policies to Indiana residents without obtaining Indiana licensure or complying with Indiana insurance laws
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Requires the out-of-state insurer to be licensed in a state with an insurance department accredited by the National Association of Insurance Commissioners' Financial Regulation Standards and Accreditation Program
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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
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Mandates that out-of-state insurers provide 12-point bold type notices to policyholders warning that the policy is governed by another state's laws, may result in premium increases not allowed in Indiana, and may exclude Indiana-mandated health benefits
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Effective date of July 1, 2012
Legislative Description
Individual out-of-state health insurance.
Last Action
First reading: referred to Committee on Insurance
1/9/2012