27-2-24-1. Application of Chapter
Sec. 1. This chapter applies to a policy of property or casualty insurance that is entered into, amended, or renewed after June 30, 2017. As added by P.L.148-2017, SEC.8.
27-2-24-10. Payment Not Required if Final Settlement Less Than 60% of Available Proceeds
Sec. 10. This chapter does not require an insurer that issued a policy of property or casualty insurance to pay a claim to an innocent coinsured if the final settlement for the property loss is less than sixty percent (60%) of available insurance proceeds under the policy. As added by P.L.148-2017, SEC.8.
27-2-24-11. Insurer Rebuttal of Status of Innocent Coinsured
Sec. 11. This chapter does not prohibit an insurer from application of reasonable standards of proof to rebut an assertion that an individual meets the requirements to be considered an innocent coinsured under section 5 of this chapter. As added by P.L.148-2017, SEC.8.
27-2-24-12. Subrogation Rights of Insurer
Sec. 12. This chapter does not affect an insurer’s right of subrogation under a policy of property or casualty insurance to recover payments made from the person that is responsible for the property loss. As added by P.L.148-2017, SEC.8.
27-2-24-2. “Authorized Agency”
Sec. 2. As used in this chapter, “authorized agency” means the following: (1) The state fire marshal or a fire department acting under IC 36-8-17. (2) The superintendent of the state police. (3) The prosecuting attorney responsible for prosecutions in the county where damage to property occurs. (4) The attorney general. (5) An officer of […]
27-2-24-3. “Available Insurance Proceeds”
Sec. 3. As used in this chapter, “available insurance proceeds” means: (1) the proceeds payable under a policy of property or casualty insurance: (A) to an innocent coinsured; and (B) based on a claim for property loss to the innocent coinsured’s primary residence; minus (2) proceeds already paid under the policy of property or casualty […]
27-2-24-4. “Final Settlement”
Sec. 4. (a) As used in this chapter, “final settlement” means a determination: (1) of the amount owed to an innocent coinsured by an insurer: (A) under the building coverage part of a policy of property or casualty insurance; and (B) for property loss to the innocent coinsured’s primary residence; and (2) made by any […]
27-2-24-5. “Innocent Coinsured”
Sec. 5. As used in this chapter, “innocent coinsured” means an individual who: (1) is insured under a policy of property or casualty insurance; (2) did not have knowledge of, cooperate in, or intentionally contribute to a property loss that was caused or arranged by another individual who: (A) is also insured under the policy […]
27-2-24-6. “Insurer”
Sec. 6. As used in this chapter, “insurer” means an insurance company that issues or delivers a policy of property or casualty insurance. As added by P.L.148-2017, SEC.8.
27-2-24-7. “Property or Casualty Insurance”
Sec. 7. As used in this chapter, “property or casualty insurance” means a type of insurance described in Class 2 and Class 3 of IC 27-1-5-1. However, the term does not mean insurance described in Class 2(a) of IC 27-1-5-1. As added by P.L.148-2017, SEC.8.
27-2-24-8. Payment of Claim Made by Innocent Coinsured
Sec. 8. (a) An insurer may not deny, exclude, or limit payment of a claim made: (1) by an innocent coinsured; (2) for coverage of a property loss to the primary residence of the innocent coinsured; and (3) under a policy of property or casualty insurance; unless the denial, exclusion, or limitation of payment is […]
27-2-24-9. Insurer Actions Solely on Basis of Innocent Coinsured History Prohibited
Sec. 9. An insurer may not: (1) refuse to renew; (2) refuse to issue; or (3) add a surcharge or rating factor to a premium for; a policy of property or casualty insurance solely on the basis that an insured or a prospective insured under the policy of property or casualty insurance has been an […]