Borrowing from Chevy Chase, Indiana is still one of a handful of states–8 actually–that have enacted reduced collateral requirements for reinsurers. This happened back in April 2011 and affects life and property and casualty lines. In a nutshell, for reinsurers holding at least $250 million in surplus (or the equivalent), the Insurance Commissioner may reduce or eliminate the amount of
collateral required. The amount of collateral required is based on a sliding scale that is determined by the financial strength of the reinsurer. Indiana Code 27-6-10-16 has the full details. As always, other terms and conditions may apply; check your local listings.
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