The commissioner may exempt from the application of this chapter:

1. (1) A domestic property and casualty insurer that:

   1. (A) writes direct business only in Indiana;
   2. (B) receives annual premiums from direct business written of not more than two million dollars ($2,000,000); and
   3. (C) assumes no reinsurance in excess of five percent (5%) of direct business written.

2. (2) A health maintenance organization that:

   1. (A) operates only in Indiana; and
   2. (B) receives annual subscriber premiums (as defined in IC 27-13-1-33 ) of not more than two million dollars ($2,000,000).

3. (3) A limited service health maintenance organization that:

   1. (A) operates only in Indiana;
   2. (B) receives annual subscriber premiums (as defined in IC 27-13-1-33 ) of not more than two million dollars ($2,000,000); and
   3. (C) covers not more than two thousand (2,000) enrollees.

As added by P.L.186-1996, SEC.1. Amended by P.L.51-2002, SEC.1.