Sec. 1. The commissioner may exempt from the application of this chapter:
(1) A domestic property and casualty insurer that:
(A) writes direct business only in Indiana;
(B) receives annual premiums from direct business written of not more than two million dollars ($2,000,000); and
(C) assumes no reinsurance in excess of five percent (5%) of direct business written.
(2) A health maintenance organization that:
(A) operates only in Indiana; and
(B) receives annual subscriber premiums (as defined in IC 27-13-1-33) of not more than two million dollars ($2,000,000).
(3) A limited service health maintenance organization that:
(A) operates only in Indiana;
(B) receives annual subscriber premiums (as defined in IC 27-13-1-33) of not more than two million dollars ($2,000,000); and
(C) covers not more than two thousand (2,000) enrollees.