On 03/21/2008, a new law was put in place on the subject of viatical settlements. The new Indiana state law, titled HB 1379, would have implemented the NAIC model law for viatical settlement providers and brokers. As introduced, the providers and brokers would have had to post a license bond, in which case a surety bond would be acceptable, in the amount of $250,000. HB 1379 was altered on the House floor by substituting the NAIC model law for other specifications to regulate life insurance. The new bill was activated on July 1, 2008.Indiana Viatical Settleme
Eric is the Webmaster of JW Surety Bonds. With years of experience in the surety industry, he is also a contributing author to the surety bond blog.