760 IAC 1-52-2 Definitions

Sec. 2. (a) The definitions contained in IC 27-1-33, in addition to the definitions in this section, shall apply for purposes of this rule. (b) A person, firm, association, or corporation shall qualify as a managing general agent under IC 27-1-33-4(a)(4)(A) only if the person, firm, association, or corporation, in addition to other criteria set forth in IC 27-1-33-4, has the authority to adjust or pay claims in an amount equal to or exceeding fifteen thousand dollars ($15,000) per claim. (c) As used in this rule, "gross direct written premium" means all direct premiums written by a managing general agent regardless of where the risks are located.