Ind. Admin. Code tit. 760, r. 2-20-39 – Reporting on asset protection

Sec. 39. (a) Each issuer shall send an asset protection report at least quarterly, with a copy sent to OMPP, to each policyholder or certificateholder who has received any benefits since the last asset protection report sent to the policyholder or certificateholder. Each asset protection report shall include the following information and shall appear in a format prescribed by OMPP:

(1) The amount of asset protection for which the policyholder or certificateholder had qualified prior to the quarter covered by the report.
(2) The total benefits paid by the issuer for services rendered during the quarter.
(3) A statement of the amount of benefits paid by the issuer for services rendered during the quarter which qualify for asset protection.
(4) A summary total of the amount paid to date under the policy or certificate that qualifies for asset protection.

(b) Asset protection reports shall be subject to audit by OMPP serving as representative of the commissioner of the department of insurance under the same requirements as specified in section 41(2) of this rule which covers the records in section 38 of this rule.

(Department of Insurance; 760 IAC 2-20-39; filed Nov 20, 1992, 9:00 a.m.: 16 IR 1156; filed Feb 9, 1999, 5:02 p.m.: 22 IR 1998; readopted filed Sep 14, 2001, 12:22 p.m.: 25 IR 531; readopted filed Nov 27, 2007, 4:01 p.m.: 20071226-IR-760070717RFA; readopted filed Nov 26, 2013, 3:43 p.m.: 20131225-IR-760130479RFA; readopted filed Nov 19, 2019, 9:18 a.m.: 20191218-IR-760190497RFA; readopted filed Nov 30, 2022, 11:39 a.m.: 20221228-IR-760220302RFA)