IC 27-6-5
    Chapter 5. Federal Reinsurance

IC 27-6-5-1
Cooperation with United States; report
    Sec. 1. (a) In order to obtain for the citizens of the state of Indianaand for their insurers the benefit of federal reinsurance againstproperty losses resulting from riots and civil disorders, as providedin the Urban Property Protection and Reinsurance Act of 1968 (12U.S.C. 1749bbb et seq.), the state of Indiana is hereby authorized tocooperate with the United States government and its Secretary ofHousing and Urban Development. The Indiana insurancecommissioner is hereby designated as the state agency to cooperatewith the federal government pursuant to that act.
    (b) The insurance commissioner shall annually report to thegeneral assembly on the statewide plan to assure fair access toinsurance requirements (FAIR plan, as provided in 12 U.S.C.1749bbb-3). The report must be submitted no later than November1 of each year. The report must contain information concerning theclasses of coverage provided under the plan during the precedingyear and any other information requested by the general assembly.The report must be in an electronic format under IC 5-14-6.
(Formerly: Acts 1969, c.429, s.1.) As amended by P.L.252-1985,SEC.215; P.L.162-1988, SEC.1; P.L.28-2004, SEC.167.

IC 27-6-5-2
Appropriations
    Sec. 2. There is hereby appropriated to the insurancecommissioner of the state of Indiana from any moneys in the generalfund of the state not otherwise appropriated the amount of money, ifany, which may be required to maintain the availability of federalreinsurance in the state of Indiana pursuant to the federal act referredto in section 1 of this chapter, up to a maximum amount in a currentyear of five percent (5%) of the aggregate property insurancepremiums earned in Indiana during the preceding calendar year onthose lines of insurance reinsured by the Secretary in Indiana duringa current year, said amount to be ordered by the said insurancecommissioner to be paid to the Secretary of Housing and UrbanDevelopment as provided in the said federal act.
(Formerly: Acts 1969, c.429, s.2.) As amended by P.L.252-1985,SEC.216.