IC 27-2-15-4.5 — Notice to enforcement authority of existence of policy
Chapter 15. Available Insurance Proceeds Set Aside
Section text
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.
Source: official publisher (2026 edition)