IN Keeps Hands Off Guaranty Fund for Fiscal Budget

Indiana lawmakers at least know enough to leave the state's guaranty fund money in the fund, and to look to other sources for funding budget shortfalls. The state's budget was passed Sunday and legislators who had considered the fund as a source of up to $28 million declined to tap it. An official of the National Association of Mutual Insurance Companies (NAMIC) said yesterday that he was thankful that Indiana lawmakers showed restraint this past weekend in not using Indiana Insurance Guaranty Fund monies to help balance the state's budget. NAMIC Market Regulation Manager David, Reddick, sai...