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Indiana Code Title 27. Insurance § 27-2-15-4.5

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

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 notice of a claim for the damage by the named insured;

shall, not more than fifteen (15) days after a final settlement is reached, notify the enforcement authority of the municipality about the existence of the policy.

(b) The notice to an enforcement authority required by subsection (a) must:

(1) be in writing;

(2) identify the insurer and state the insurer's address;  and

(3) identify the building or structure and state the location of the building or structure.

(c) The commissioner may take action under IC 27-1-3-10 and IC 27-1-3-19 against an insurer that violates this section.

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Cite this article: FindLaw.com - Indiana Code Title 27. Insurance § 27-2-15-4.5 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-27-insurance/in-code-sect-27-2-15-4-5/

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