Indiana Code 27-6-1.1-4. Termination of indemnity reinsurance transaction
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Terms Used In Indiana Code 27-6-1.1-4
- Indemnity reinsurance: means a transaction in which one (1) insurer agrees to indemnify another insurer for all or a portion of the insurance, annuity, and endowment risks or liabilities of the ceding insurer. See Indiana Code 27-6-1.1-1
Sec. 4. The commissioner may require the termination of any indemnity reinsurance transaction, whether or not the applicable agreement was required to be filed for approval, if after a hearing under IC 4-21.5-3, the commissioner finds that the transaction creates an unsafe condition for the policyholders of a domestic insurer.
As added by P.L.260-1983, SEC.1. Amended by P.L.7-1987, SEC.152.