Indiana Insurance Department Amends Its Non-Resident TPA Application

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The Indiana Insurance Department ("Department") recently amended its Non-Resident Third Party Administrator Application ("Non-Resident TPA Application").

Specifically, effective May 1, 2013, the Department's Non-Resident TPA Application was amended with the addition of a new Section ("Section 3"). Section 3 of the Non-Resident TPA application requires TPAs renewing their TPA licenses in Indiana to:

  • list the states in which they are licensed or applying as a TPA; and
  • list the states in which they are licensed or engaged in business as a TPA.

According to the Department, there were two reasons for the addition of Section 3 to its Non-Resident TPA Application. First, there isn't a national database that keeps track of where TPAs are licensed. Second, the Department indicated it had several instances last year where a few TPAs provided falsified state TPA licenses in an attempt to obtain a TPA license in Indiana. With the addition of this new section to the Non-Resident TPA Application, the Department will have additional information to help it verify the states in which a TPA is properly licensed.

Topics:  Non-Resident Aliens, TPAs

Published In: General Business Updates, Insurance Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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