{"data":{"id":"us-in/ic-27-1-36-43","jurisdiction":"us-in","citation":"IC 27-1-36-43","heading":"Action by commissioner after mandatory control level event with respect to property and casualty insurer","body":"Sec. 43. (a) If a mandatory control level event occurs with respect to a property and casualty insurer, the commissioner:\n(1) shall take the actions necessary to place the insurer under regulatory control under IC 27-9; or\n(2) in the case of an insurer that is not writing business and that is running off its existing business, may allow the insurer to continue its run-off under the supervision of the commissioner.\n(b) A mandatory control level event is sufficient grounds for the commissioner to take action against a property and casualty insurer under IC 27-9, and the commissioner has the rights, powers, and duties with respect to the insurer that are set forth in IC 27-9.\n(c) If the commissioner takes action against a property and casualty insurer under an adjusted RBC report, the insurer is entitled to the protections of IC 27-9-2 pertaining to summary proceedings.\n(d) The commissioner may forego action for not more than ninety (90) days after the mandatory control level event if the commissioner finds there is a reasonable expectation that the mandatory control level event may be eliminated within the ninety (90) day period.","path":["TITLE 27. INSURANCE","ARTICLE 1. DEPARTMENT OF INSURANCE","Chapter 36. Risk Based Capital Requirements"],"source_url":"https://iga.in.gov/ic/2026/Title_27.html#27-1-36-43","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-25T05:39:04Z","sha256":"8d2b96d3b8ff15e8ace9201e9e0f1ee177af7e5226ed4b95e788211c04c8cdcf","source_id":"us-in","stale":false,"prev":"us-in/ic-27-1-36-42.1","next":"us-in/ic-27-1-36-44"},"notice":"GroundRules: Original legal text. Not legal advice."}