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Indiana Department of Insurance

IDOI > Financial Services > Initial Registration Requirements > Risk Retention Groups (Foreign Only) Risk Retention Groups (Foreign Only)

I.C. 27-7-10-14

A risk retention group (RRG) chartered in another state must register with IDOI before doing business in Indiana.  Please submit the following items. The application should be tabbed in the order below.

Tab 1.      Cover letter, UCAA Application, Additional Information Sheet, Filing Fee of $110

Tab 2.      Information, including information on the membership of the group, that verifies the group meets the    definition of risk retention group in IC 27-7-10-11

Tab 3.      A copy of a plan of operation or feasibility study in compliance with IC 27-7-10-8 and IC 27-7-10-14 (b) (2) which includes any revisions to its plan of operation or feasibility study since being originally chartered.  

Tab 4.      A certified copy of the RRG’s charter or license from its chartering state.

Tab 5.      The current annual and quarterly audited financial statement certified by an independent public accountant and containing a statement of opinion on loss and loss adjustment expense reserves made by a member of the American Academy of Actuaries or by a qualified loss reserve specialist.

Tab 6.      A copy of the most recent examination of the RRG, certified by the commissioner or public official conducting the examination.

Tab 7.      Copies of signed and notarized biographical affidavits on current officers and directors of the group.

 

Please submit the registration documents to:

Admissions Coordinator
Indiana Department of Insurance
311 West Washington Street, Suite 300
Indianapolis, Indiana 46204-2787