760 Ind. Admin. Code 1-75-5

Current through December 12, 2024

Section 760 IAC 1-75-5 - Coverage and forms

Authority: IC 20-42.5-2-1

Affected: IC 27-1-5-1; IC 27-7-2-28.1

Sec. 5.

(a) A risk pool may offer any of the following coverages:

(1) Liability insurance.

(2) Property insurance.

(3) Casualty insurance.

(4) Worker's compensation insurance.

(5) Employee health insurance.

(6) Vision insurance.

(7) Dental insurance.

(8) Automobile liability insurance.

(9) Professional liability insurance.

(10) Boiler and machinery insurance.

(11) Crime insurance.

(12) Any other insurance.

(b) A risk pool may issue initial coverage for the first policy term of a new risk pool participant at any time. A renewal policy issued by the risk pool to a risk pool participant after the first policy term shall be written for a policy term concurrent with the risk pool's operating fiscal year.

(c) If a risk pool offers worker's compensation through an insurer, it must be by a primary or excess insurer holding a license described in Class 2(b) of IC 27-1-5-1. The insurer shall comply with all requirements of IC 27-7-2. The risk pool or the primary or excess insurer shall report data required by IC 27-7-2-28.1 to the ICRB for the risk pool and for each individual risk pool participant.

760 IAC 1-75-5

Department of Insurance; 760 IAC 1-75-5; filed Apr 14, 2008, 10:28 a.m.: 20080514-IR-760070144FRA

Readopted filed 11/17/2014, 3:39 p.m.: 20141217-IR-760140197RFA

Readopted filed 11/24/2020, 10:27 a.m.: 20201223-IR-760200464RFA