IN SB0111

Establishes IC 27-1-41 as a new chapter authorizing insurers to issue group personal excess or umbrella liability insurance policies to eligible groups effective July 1, 2012.

Defines eligible groups as organizations (trade associations, professional associations, labor unions, clubs, etc.) with at least 10 members existing for at least 2 years, or employees of one or more employers, with eligibility restrictions preventing insurance purchase from being a membership condition.

Permits group members to include employees, retired employees, business owners, partners, directors, spouses, children, and household residents of covered individuals under employer-based groups.

Requires group insurance certificates to include insurer information, master policy number, group administrator details, coverage description, premium amount, coverage limits, and all material terms and conditions of coverage.

Authorizes the interim study committee on insurance to study the effect of this chapter on Indiana's liability insurance market during the 2016 interim, with the study requirement expiring July 1, 2017.