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Current as of January 02, 2024 | Updated by Findlaw Staff
Sec. 2. (a) An insurer may not cancel a policy of insurance that the insurer has written that has been in effect more than ninety (90) days unless:
(1) the insured under the policy has failed to pay the premium;
(2) there is a substantial change in the scale of risk covered by the policy;
(3) the insured has perpetrated a fraud or material misrepresentation upon the insurer;
(4) the insured has failed to comply with reasonable safety recommendations; or
(5) reinsurance of the risk associated with the policy has been cancelled.
(b) An insurer shall mail a written notice of cancellation to a person insured under a policy issued by the insurer at least:
(1) forty-five (45) days before cancelling the policy for any reason set forth in subsection (a)(2), (a)(4), or (a)(5);
(2) twenty (20) days before cancelling the policy for the reason set forth in subsection (a)(3); or
(3) ten (10) days before cancelling the policy for the reason set forth in subsection (a)(1).
Cite this article: FindLaw.com - Indiana Code Title 27. Insurance § 27-1-31-2 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-27-insurance/in-code-sect-27-1-31-2/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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