As we’ve previously reported (see our prior post here), in 2011, Indiana joined Florida and New Jersey to become among the first states to enact legislation adopting the NAIC’s Credit for Reinsurance Model Law. On March 15, 2012–the Ides of March, nonetheless–Indiana took another step forward by adopting accreditation eligibility requirements and suspension/revocation privileges more in line with the NAIC’s current models. Click here for the complete statute, but (SPOILER ALERT!) you’re going to want to get a fresh cup of coffee beforehand.
The revised statute goes into effect on July 1, 2012.