IC 27
    TITLE 27. INSURANCE

IC 27-1
    ARTICLE 1. DEPARTMENT OF INSURANCE

IC 27-1-1
    Chapter 1. Department Created

IC 27-1-1-1
Creation; functions
    Sec. 1. There is hereby created a department in the stategovernment of the state of Indiana which shall be known as thedepartment of insurance. Said department shall have charge of theorganization, supervision, regulation, examination, rehabilitation,liquidation, and/or conservation of all insurance companies to whichthis title is applicable, shall have charge of the enforcement,administration, and execution of the provisions of this title and theprovisions of any other statute applicable to insurance companies, tothe insurance department, or to the insurance commissioner, andshall exercise such other powers and perform such other duties asmay at any time be imposed or conferred on the department by law.Wherever by any of the provisions of any statute any right, power, orduty is imposed or conferred on the department, the right, power, orduty so imposed or conferred shall be possessed and exercised by theinsurance commissioner, unless otherwise provided in that statute, orunless any such right, power, or duty is delegated to the dulyappointed deputies, assistants, or employees of the department, orany of them, by an appropriate rule or order of the insurancecommissioner.
(Formerly: Acts 1945, c.351, s.1.) As amended by P.L.252-1985,SEC.1.

IC 27-1-1-2
Insurance commissioner
    Sec. 2. The powers, duties, management and control of thedepartment of insurance are hereby conferred on and vested in the"insurance commissioner." The insurance commissioner shall beappointed by the governor, and shall be familiar with and known topossess a knowledge of the subject of insurance and be skilled inmatters pertaining thereto and shall be chosen solely for fitness,irrespective of his political beliefs or affiliations. The commissionershall serve and may be removed at the pleasure of the governor, andshall be the chief executive and administrative officer of thedepartment. The insurance commissioner shall receive an annualsalary of eleven thousand five hundred dollars ($11,500), which shallbe in full of all services performed by him in any capacity. Thecommissioner shall take an oath of office and give bond in the sumof fifty thousand dollars ($50,000) with surety to be approved by the

governor for the faithful performance of his duties.
    The commissioner is authorized to attend and participate in themeetings of the national convention of insurance commissioners andof the committees thereof, and he may require such of his deputies,actuaries and assistants as he may designate to attend and participatein such meetings. If he deems it advisable he may request theattorney-general or a deputy attorney-general to attend andparticipate in such meetings with him. He and his deputies, actuaries,assistants and attorneys as aforesaid shall aid in promotingimprovements in the insurance laws and the uniformity thereof in theseveral states. The expense of such attendance by the commissioner,and his deputies, actuaries, assistants and attorneys as aforesaid shallbe paid by the state treasurer upon the warrant of the commissionercertifying therein that he has examined and approved the charges forsuch expenses.
(Formerly: Acts 1945, c.351, s.2; Acts 1959, c.351, s.1.)

IC 27-1-1-3
Personnel
    Sec. 3. The commissioner, with the approval of the governor shallappoint a chief deputy, an actuary, a securities deputy, and such otherdeputies, examiners, assistants and other employees as may benecessary to carry on the work of the department. With respect to allof such positions, aptitude, previous training and experience,intelligence and moral and physical qualifications shall be carefullyconsidered and such employees shall be chosen for their fitness,either professional or practical, as the nature of the position mayrequire, irrespective of their political beliefs or affiliations; it beingthe responsibility of the commissioner to develop and maintain ahighly trained and effective personnel within the insurancedepartment. The actuary of the department shall have had at leastfive (5) years experience in a responsible actuarial position in a lifeor casualty insurance company, in consulting actuarial practice, or ina comparable actuarial position in a state or federal agency; however,only two (2) years experience of the type aforesaid shall be required(a) if the applicant is a fellow or associate of the society of actuariesor the casualty actuarial society, or (b) if said applicant hascompleted courses in actuarial mathematics or theory in anaccredited college or university. The technical or professionalqualifications of any applicant shall be determined by examination,professional rating or otherwise, as the commissioner, with theapproval of the governor, shall determine. The securities deputy andany securities clerk shall each give bond in the sum fixed by thegovernor, but not less than twenty-five thousand dollars ($25,000)surety with the approval of the governor, for the faithful performanceof their duties.
(Formerly: Acts 1945, c.351, s.3; Acts 1959, c.351, s.2.)

IC 27-1-1-4
Compensation of personnel; grounds for dismissal    Sec. 4. The annual salaries of personnel of the department, otherthan the commissioner, shall be fixed by the commissioner withapproval of the governor and budget agency. The commissioner shallhave the power at any time to terminate the services of any employeeof the department for inefficiency, incompetency or neglect of orfailure to perform his duties.
(Formerly: Acts 1945, c.351, s.4; Acts 1959, c.351, s.3; Acts1963(ss), c.8, s.1.)

IC 27-1-1-5
Repealed
    (Repealed by P.L.4-1988, SEC.17.)