Sec. 25. (a) A domestic insurer shall prepare a report of the RBC levels of the insurer as of the last day of the calendar year most recently ended. The report must:

(1) be in the form; and

lawyer at desk

Ask an insurance law question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Indiana Code 27-1-36-25

  • Commissioner: means the "insurance commissioner" of this state. See Indiana Code 27-1-2-3
  • domestic insurer: means any:

    Indiana Code 27-1-36-8

  • in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
  • Insurance: means a contract of insurance or an agreement by which one (1) party, for a consideration, promises to pay money or its equivalent or to do an act valuable to the insured upon the destruction, loss or injury of something in which the other party has a pecuniary interest, or in consideration of a price paid, adequate to the risk, becomes security to the other against loss by certain specified risks; to grant indemnity or security against loss for a consideration. See Indiana Code 27-1-2-3
  • insurer: includes :

    Indiana Code 27-1-36-9.6

  • NAIC: refers to the National Association of Insurance Commissioners. See Indiana Code 27-1-36-13
  • RBC: refers to risk based capital. See Indiana Code 27-1-36-16
  • RBC report: means the report required by section 25 of this chapter. See Indiana Code 27-1-36-20
  • Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(2) contain the information;

required by the RBC Instructions.

     (b) On or before March 1 of each year, a domestic insurer shall file the RBC report described in subsection (a) with:

(1) the commissioner;

(2) the NAIC, in accordance with the RBC Instructions; and

(3) the insurance commissioner in any state other than Indiana in which the insurer is authorized to do business, if the insurance commissioner has notified the insurer in writing of the commissioner’s request for the insurer’s RBC report.

An insurer is not required to pay a fee when filing an RBC report under this subsection.

     (c) If an insurer is required under subsection (b)(3) to file its RBC report with the insurance commissioner of a state other than Indiana, the insurer shall file the RBC report with the insurance commissioner of that state not later than:

(1) fifteen (15) days after the insurer receives the notice; or

(2) March 1 of the calendar year in which the insurer receives the notice;

whichever occurs later.

As added by P.L.186-1996, SEC.1. Amended by P.L.124-2018, SEC.60.

  Previous section
Next section  
 Chapter 36 Contents