760 Ind. Admin. Code 1-13-1
Authority: IC 27-1-3-7
Affected: IC 4-22-2; IC 27-4-1-4
Sec. 1.
Authority and Purpose of Regulation. The following rules [ 760 IAC 1-13 ]are promulgated pursuant to the rule making authority provided in Indiana Insurance Law of 1935, Acts 1935, Chapter 162, Section 14 [IC 27-1-3-7 ], Page 588, Section 39-3311 [IC 27-1-3-7], Burns Indiana Statutes Annotated, and to implement the provisions of the "Unfair Competition and Practice Act," being Acts of 1947, Chapter 112 [IC 27-4-1], Page 328, as amended in the Acts of 1955, Chapter 10, Section 1 [IC 27-4-1-4], Page 8, being Section 39-5304 [IC 27-4-1-4]of Burns Indiana Statutes Annotated. The procedure followed in adopting these rules is that prescribed in the uniform method of promulgating rules by agencies of the State of Indiana, being Acts of 1945, Chapter 120 [IC 4-22-2 ], Page 250, and being Section 60-1501 through 60-1511 [IC 4-22-2 ]of Burns Indiana Statutes Annotated. The purpose of these rules is to identify, clarify and prohibit certain acts and practices which are considered to be unsound methods of transacting the life insurance business in Indiana or unfair and deceptive acts and practices in the transaction of the business of life insurance in Indiana as provided by law and to establish certain requirements in the solicitation and sale of life insurance in Indiana to the end that policyholders and the insurance buying public shall not be misinformed or misled concerning contracts of life insurance or annuities purchased by them.
760 IAC 1-13-1