House Bill 1013 Summary

• Allows out-of-state accident and sickness insurers licensed in other states with accredited insurance departments to issue individual health insurance policies to Indiana residents without obtaining an Indiana license or complying with most Indiana insurance laws.

• Defines "out-of-state insurer" as an insurer without an Indiana certificate of authority but licensed in another state whose insurance department is accredited under the National Association of Insurance Commissioners' Financial Regulation Standards and Accreditation Program.

• Requires out-of-state insurers to provide two specific notices in 12-point bold type at policy issuance and renewal, disclosing that the policy is governed by another state's laws and may have higher premiums and fewer mandated benefits than Indiana-approved policies.

• Authorizes the Indiana Insurance Commissioner to conduct market conduct and solvency examinations of out-of-state insurers and adopt rules to review and limit premium rate changes on these policies.

• Takes effect July 1, 2013.