Indiana Department of Insurance Issues Final Rule Regarding Senior-Specific Certifications (and Other Rules Updates)

The Indiana Legislative Services Agency today published three insurance-related rules updates.  They are:

  • #12-406(F) (which means it’s a final rule):  regarding the use of senior-specific certifications and professional designations in the sale of life insurance and annuities;
  • #12-464:  intent to adopt a rule regarding standards for companies deemed to be hazardous; and
  • #12-465:  intent to adopt a rule to establish a process to allow the commissioner to determine whether certain filings or supporting information submitted to the department are confidential.

For insurers, the most pressing rule is the first one listed, which takes effect on August 19, 2012.  That rule makes it a “fraudulent, coercive, and dishonest practice in the business of insurance…for an insurance producer to use a senior-specific certification or professional designation that indicates or implies in such a way as to mislead a purchaser or prospective purchaser that the insurance producer has special certification or training in advising or servicing seniors….”  Insurers that violate the rule face potential disciplinary action from the Department.

About Brian Jones

I represent clients in all aspects of business litigation, but focus my practice on complex litigation and arbitration matters concerning insurance and reinsurance, antitrust, class actions, securities, real estate disputes, and contract matters. I am the co-chair of the Bose McKinney & Evans Insurance Group. I was listed in the 2017 and 2016 "Best Lawyers in America" for Insurance Coverage and named a "Rising Star" in Insurance Coverage by Super Lawyers in Indiana in 2014. I was also named a "Rising Star" in Business Litigation by Super Lawyers in Indiana in 2013 and 2012, and a 2010 “Rising Star” in Business Litigation in Texas. I am a member of the State Bars of Indiana and Texas, the Defense Research Institute, a former member of the Pro Bono College of the State Bar of Texas, and I am licensed to practice before all state courts in Indiana and Texas, as well as all federal courts in Indiana, the Northern, Western, and Southern Districts of Texas, the Northern District of Illinois, and the United States Courts of Appeals for the Fifth, Seventh, and Eleventh Circuits. I received my bachelor’s degree, cum laude, in political science and my master’s degree in teaching from Trinity University, where I was elected to Phi Beta Kappa. I received my doctor of jurisprudence degree from the University of Texas School of Law, where I was the Director of Communications for the Legal Research Board and a member of the Phi Delta Phi Honor Society. Before attending law school, I taught high school geography, government and economics in San Antonio, Texas.
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