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27-2-15-4.5. Notice to enforcement authority of existence of policy

IN Code § 27-2-15-4.5 (2019) (N/A)
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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.

As added by P.L.123-1992, SEC.1. Amended by P.L.119-2012, SEC.159; P.L.238-2013, SEC.7.

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