Indiana Code Title 32. Property § 32-25-8-9

(1) a master casualty policy, payable as part of the common expenses, affording fire and extended coverage in an amount consonant with the full replacement value of the improvement that in whole or in part comprises the common areas and facilities;  and

(2) a master liability policy in an amount:

(1) the association of co-owners;

(2) the executive organ, if any;

(3) the managing agent, if any;

(4) all persons acting, or who may come to act, as agents or employees of any of the entities referred to in subdivisions (1) through (3) with respect to:

(1) worker's compensation insurance;

(2) liability insurance on motor vehicles owned by the association;

(3) specialized policies covering land or improvements on which the association has or shares ownership or other rights;  and

(4) officers' and directors' liability policies.

(1) the obtainment of the policy;  and

(2) any subsequent changes to or termination of the policy.