HB 1332 – Indiana

Status: In Process
Year Introduced: 2024
Link: https://iga.in.gov/legislative/2024/bills/house/1332/details

Repeals the law that created the insurance producer education and continuing education advisory council. Repeals the law requiring an alien or foreign insurance company to annually submit to the department of insurance (department) a condensed statement of its assets and liabilities and requiring the department to publish the statement in a newspaper. Adds to the law on the regulation of insurance holding company systems provisions concerning liquidity stress testing according to the framework established by the National Association of Insurance Commissioners. Amends the law on insurance administrators to set forth certain circumstances under which an insurance administrator is required to apply to Indiana for a license. Amends the law on individual prescription drug rebates and the law on group prescription drug rebates to authorize the department to adopt rules for the enforcement of those laws and to specify that a violation of either of those laws is an unfair or deceptive act or practice in the business of insurance. Amends the property and casualty insurance guaranty association law concerning the allocation, transfer, or assumption by one insurer of a policy that was issued by another insurer.

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