Indiana Code 27-7-10-15. Premium taxes and taxes on premiums; liability; report of premiums; policy records
(b) A licensed insurance producer who is utilized under section 30 of this chapter in soliciting, negotiating, or procuring liability insurance from a risk retention group that is chartered and licensed in a state other than Indiana shall report to the commissioner the premiums for direct business for risks resident or located within Indiana that the insurance producer has placed with or on behalf of a risk retention group that is not chartered in Indiana.
Terms Used In Indiana Code 27-7-10-15
- commissioner: means :
Indiana Code 27-7-10-1
- insurance: means primary insurance, excess insurance, reinsurance, surplus lines insurance, and any other arrangement for shifting and distributing risk that is determined to be insurance under the laws of Indiana. See Indiana Code 27-7-10-5
- liability: means legal liability for damages (including costs of defense, legal costs and fees, and other claims expenses) because of injuries to other persons, damage to their property, or other damage or loss to other persons, resulting from or arising out of:
Indiana Code 27-7-10-6
- risk retention group: includes a corporation or limited liability association described in subsection (a)(3)(B):
Indiana Code 27-7-10-11
- state: means any state of the United States or the District of Columbia. See Indiana Code 27-7-10-12
(1) The limit of liability.
(2) The time period covered.
(3) The effective date.
(4) The name of the risk retention group that issued the policy.
(5) The gross premium charged.
(6) The amount of return premiums, if any.
As added by P.L.162-1988, SEC.2. Amended by P.L.178-2003, SEC.49.