Indiana insurance laws
Insurance regulations, rate filing requirements, department info, and recent bulletins for Indiana. Updated Mar 31, 2026.
Department of Insurance
Indiana operates under a File and Use rate filing system where insurers can implement rates immediately upon filing with the Department of Insurance. The state follows a traditional tort-based auto insurance system and expanded Medicaid through the Healthy Indiana Plan (HIP 2.0). Holly W. Lambert serves as Commissioner, appointed by Governor Eric Holcomb in October 2024.
Auto Insurance
Notable Laws
- Ind. Code § 27-7-5-2: Requires insurers to offer uninsured and underinsured motorist coverage with minimum $50,000 UIM limits
- Ind. Code § 27-7-5-11: 'No Pay, No Play' law restricts uninsured motorists from recovering first $25,000 in property damage
- Ind. Code § 9-25-4-5: Financial responsibility minimums of 25/50/25
- Ind. Code § 9-25-5: SR-22 proof of financial responsibility filing requirements for high-risk drivers
- Ind. Code § 27-7-3.6: Auto insurance policy requirements and mandatory coverage provisions
Homeowners Insurance
Notable Laws
- Ind. Code § 27-7-12-4: Requires 20-day advance notice for nonrenewal of homeowners insurance
- Ind. Code § 27-7-12-6: Limits cancellation after 60 days to specific statutory reasons
- Ind. Code § 27-2-21-16: Regulates use of credit information for underwriting and rating, prohibits use of income or gender
- Ind. Code § 27-7-13: Indiana FAIR Plan provides last-resort property insurance coverage
- Ind. Code § 27-7-12-2: Defines permissible grounds for cancellation and nonrenewal of property insurance
Recent Bulletins
Credit Life and Accident and Health Rates
Triennial review of credit insurance experience (2021-2023) resulting in 32.5% increase in credit life prima facie rates and 6.1% decrease in credit accident/health rates; establishes discount rates of 3.47% for life and 3.07% for accident/health
View bulletinWithdrawal of Association Health Plans Bulletin 245
Withdraws Bulletin 245 following U.S. Department of Labor's rescission of the 2018 AHP Rule, returning to pre-2018 guidance for determining whether an association qualifies as an employer for sponsoring group health plans
View bulletinNonforfeiture Requirements for Index-Linked Variable Annuity Products
Requires all index-linked variable annuity contracts issued in Indiana to comply with Actuarial Guideline 54 nonforfeiture requirements; insurers must demonstrate compliance for products approved prior to July 1, 2023 and provide detailed actuarial memorandums
View bulletinPolicy Cancellation Moratorium
Institutes 60-day moratorium on insurance policy cancellations/non-renewals for policyholders in Delaware, Jefferson, and Randolph counties affected by March 14, 2024 tornadoes; also provides 60-day grace period for licensee renewals and continuing education
View bulletinPublic Adjuster Contracts
Clarifies contract form review and approval process for public adjusters under Public Law 226-2023; all contracts must be Department-approved in writing, executed in duplicate, and include specific statutory disclosures
View bulletinRecent Law Changes
Pharmacy Benefit Manager Reform
Imposes comprehensive PBM regulations including prohibition on requiring employer plans to contract with specific PBMs, elimination of clawback fees, enhanced transparency requirements, and restrictions on anti-competitive contracting provisions between hospitals and insurers
Employer group health plans gain flexibility in PBM selection; pharmacies receive protection from unfair fee structures
Effective: 2025-07-01
Cost Sharing and Out-of-Pocket Expense Credit
Requires insurers, administrators, and PBMs to credit all amounts paid by covered individuals toward annual cost-sharing limits and out-of-pocket maximums, including copay assistance and manufacturer coupons; bans accumulator and maximizer programs
Patients with chronic conditions receive full credit for manufacturer copay assistance toward deductibles and out-of-pocket limits
Effective: 2026-01-01
Out-of-Network Billing Dispute Resolution
Accelerates independent dispute resolution process for out-of-network billing disputes, protects patient access to care, and prohibits insurers from imposing financial penalties on facilities when out-of-network clinicians provide care
Hospitals and physician practices protected from insurance penalties for out-of-network care; patients gain faster dispute resolution
Effective: 2026-03-01
Regulation of Premium Increases
Limits property, homeowners, renters, and motor vehicle insurance rate increases; requires insurers to justify requested rate increases to the Insurance Commissioner with detailed supporting documentation
Policyholders gain protection from excessive rate increases through enhanced regulatory oversight and justification requirements
Effective: 2025-07-01
Health Care Entity Merger Notice Requirements
Requires health care entities including hospitals, physician groups, and insurers to provide advance notice to Attorney General of mergers or acquisitions; establishes review process for transactions potentially impacting market competition
State gains oversight of health care consolidation to protect consumers from anti-competitive mergers
Effective: 2024-07-01
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