Sec. 33. At any time while a policy, written pursuant to designation by the bureau, is in force, the carrying company, upon its own initiative, may make a further careful inspection of the risk for the purpose of measuring its hazards, making recommendation for the promotion of the safety of employees and determining the rate or rates which should apply to insurance issued in renewal of such policy. Rates for the renewal of any policy issued pursuant to this chapter shall take into account the available experience of the risk for the previous five (5) years, and such rates shall be made in contemplation of the facts disclosed by the most recent inspection of the risk by the rating bureau as provided in this chapter, subject to the approval of the department.
Ind. Code § 27-7-2-33
Designated insurer carrying rejected risk; additional inspection; renewal rates
Applied in 1 court decision — leading case 855 F. Supp. 980 - Liberty Mut. Ins. Co. v. KAT, INC. (1994)
Most recently applied in 855 F. Supp. 980 - Liberty Mut. Ins. Co. v. KAT, INC. (June 1994)
Formerly: Acts 1935, c.323, s.33
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.