760 IAC 2-11-1 - Modification or suspension
Authority: IC 27-8-12-7
Affected: IC 4-21.5; IC 27-8-12
Sec. 1.
The commissioner may, upon written request and after a hearing under IC 4-21.5, issue an order to modify or suspend a specific provision or provisions of this article with respect to a specific long term care insurance policy, certificate, or subscriber agreement upon a written finding of the following:
(1) The
modification or suspension would be in the best interest of the
insureds.
(2) The purposes to be
achieved could not be effectively or efficiently achieved without the
modification or suspension.
(3) Any
of the following are necessary:
(A) The
modification or suspension is necessary to the development of an innovative and
reasonable approach for insuring long term care.
(B) The policy, certificate, or subscriber
agreement is to be issued to residents of a life care or continuing care
retirement community or some other residential community for the elderly and
the modification or suspension is reasonably related to the special needs or
nature of such a community.
(C) The
modification or suspension is necessary to permit long term care insurance to
be sold as part of, or in conjunction with, another insurance
product.
Notes
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