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Indiana Code Title 27. Insurance § 27-1-29.1-12

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 12. (a) A liability of a member of the fund that is not a member of the political subdivision risk management fund under IC 27-1-29 does not qualify for partial payment under this chapter unless the total amount of the liability exceeds:

(1) one million dollars ($1,000,000);  or

(2) another sum that is:

(A) greater than one million dollars ($1,000,000);  and

(B) approved by the commission as a provision of the fund member's coverage because the fund member has underlying coverage with limits of liability that exceed one million dollars ($1,000,000).

(b) A liability of a member of the fund that is also a member of the political subdivision risk management fund under IC 27-1-29 does not qualify for partial payment under this chapter unless the amount of the liability exceeds the amount of liability payable by the commission under IC 27-1-29 under the terms of the coverage document that is issued to the fund member and applicable to the liability.

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Cite this article: FindLaw.com - Indiana Code Title 27. Insurance § 27-1-29.1-12 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-27-insurance/in-code-sect-27-1-29-1-12/

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