Sec. 1. As used in this chapter, “available insurance proceeds” means the proceeds payable under an insurance policy based upon a claim for damage to or loss of a building or other structure caused by fire or explosion, minus proceeds paid to: (1) the insured for emergency living expenses; (2) take emergency action necessary to […]
Sec. 10. The insurance commissioner may adopt rules under IC 4-22-2 necessary to implement this chapter. These rules must include a procedure for the administration of escrow accounts established under section 5 of this chapter, including the disposition of any funds in the escrow account not claimed under section 6 of this chapter. As added […]
As added by P.L.247-1989, SEC.2. Repealed by P.L.238-2013, SEC.1.
Sec. 2.5. As used in this chapter, “department” refers to the department of insurance created by IC 27-1-1-1. As added by P.L.238-2013, SEC.2.
Sec. 3. As used in this chapter, “enforcement authority” has the meaning set forth in IC 36-7-9-2. As added by P.L.247-1989, SEC.2.
Sec. 3.2. (a) As used in this chapter, “final settlement” means a determination: (1) of the amount owed to an insured: (A) under the building coverage part of an insurance policy issued by an insurer; and (B) for damage to or loss of a building or other structure caused by fire or explosion; and (2) […]
Sec. 4. As used in this chapter, “insurer” means a fire and marine insurance company, as defined in IC 27-1-2-3(u). As added by P.L.247-1989, SEC.2.
Sec. 4.2. As used in this chapter, “municipality” has the meaning set forth in IC 36-1-2-11. As added by P.L.238-2013, SEC.4.
Sec. 4.3. (a) This chapter applies to damage to or loss of a building or structure caused by fire or explosion only if all of the following are true: (1) The municipality in which the building or structure is located is included on the list maintained by the department under section 4.4(b) of this chapter. […]
Sec. 4.4. (a) A municipality may elect to be governed by this chapter by submitting to the department a written request. The request must: (1) be approved by adoption of an ordinance by the municipality’s legislative body; and (2) contain contact information for the specific individual who will act on behalf of the enforcement authority […]
Sec. 4.5. (a) An insurer that: (1) issued an insurance policy that: (A) covers a building or other structure that is: (i) located in a municipality governed by this chapter; and (ii) damaged by a fire or explosion; and (B) is in effect at the time that the fire or explosion occurs; and (2) receives […]
Sec. 5. (a) This section does not apply to damage or loss to a building or structure described in section 4.5 of this chapter if: (1) not more than fifteen (15) days after final settlement has occurred concerning the building or structure, the named insured files with the insurer evidence of a contract to repair […]
Sec. 6. (a) Upon a judgment being rendered under IC 36-7-9-13(c) or IC 36-7-9-13(d), the municipality is entitled to the available insurance proceeds set aside only: (1) to the extent of the costs set forth in IC 36-7-9-12; and (2) for demolition and rehabilitation expenses certified under section 5(b) of this chapter. Available insurance proceeds […]
Sec. 7. An insurer complying with this chapter or attempting in good faith to comply with this chapter is immune from civil and criminal liability in connection with actions taken under this chapter, and those actions, including withholding payment of any insurance proceeds under this chapter or releasing or disclosing any information under this chapter, […]
Sec. 8. Insurance proceeds set aside in an escrow account under section 5 of this chapter shall be considered as having been paid to the insured in satisfaction of any contractual liability under the policy. As added by P.L.247-1989, SEC.2.
Sec. 9. The department, the commissioner and employees of the department, the state fire marshal, a deputy fire marshal, an enforcement authority, or an officer of a municipality complying with this chapter or attempting in good faith to comply with this chapter is immune from civil and criminal liability in connection with actions taken under […]
