§ 34-53-1-2 Costs and expenses of asserting third party claim; payment by insurer out of amount received from insured

Codes > Indiana Code > Title 34 > Article 53 : Chapter 1 > 34-53-1-2 Costs

34-53-1-2 Costs and expenses of asserting third party claim; payment by insurer out of amount received from insured

    Sec. 2. An insurer claiming subrogation or reimbursement rights under this chapter shall pay, out of the amount received from the insured, the insurer's pro rata share of the reasonable and necessary costs and expenses of asserting the third party claim. These reasonable and necessary costs and expenses include and are not limited to the following:

    (1) The cost of depositions.

    (2) Witness fees.

    (3) Attorney's fees to the lesser of:

        (A) the amount contracted by the insured for the insured's portion of the claim; or

        (B) thirty-three and one-third percent (33 1/3 %) of the amount of the settlement.