Indiana Code 27-1-12.8-38. Confidential information; release
(1) The confidential information may be subject to subpoena to defend an action seeking damages from the appointed actuary submitting the supporting memorandum submitted under sections 21 through 23 of this chapter or principle based valuation report developed under section 35(c)(3) of this chapter due to a requirement of this chapter.
Terms Used In Indiana Code 27-1-12.8-38
- appointed actuary: means a qualified actuary who is appointed to prepare an actuarial opinion required by sections 21 and 22 of this chapter. See Indiana Code 27-1-12.8-2
- Commissioner: means the "insurance commissioner" of this state. See Indiana Code 27-1-2-3
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Department: means "the department of insurance" of this state. See Indiana Code 27-1-2-3
- 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
- Subpoena: A command to a witness to appear and give testimony.
(3) If a part of a supporting memorandum submitted under sections 21 through 23 of this chapter or a principle based valuation report developed under section 35(c)(3) of this chapter is:
(A) cited by a company in the company’s marketing;
(B) publicly volunteered to or before a governmental agency other than a state insurance department; or
(C) released by the company to the news media;
all parts of the supporting memorandum or report are not confidential.
As added by P.L.276-2013, SEC.10.