§ 34-31-8-11 Effect on liability insurance

Codes > Indiana Code > Title 34 > Article 31 : Chapter 8 > 34-31-8-11 Effect

34-31-8-11 Effect on liability insurance

    Sec. 11. (a) If the total gross assets of a transferor corporation include liability insurance issued to the transferor corporation, this chapter does not affect the applicability, terms, conditions, or limits of the liability insurance.

    (b) This chapter does not affect the rights and obligations of an insurer, transferor, or successor under an insurance contract or any related agreements, including:

        (1) preenactment settlements resolving coverage related disputes; or

        (2) contracts regarding the rights of an insurer to seek payment for applicable deductibles, retrospective premiums, self-insured periods, or periods as to which insurance is uncollectible or unavailable.

    (c) A settlement of a dispute concerning liability insurance coverage entered into by a:

        (1) transferor corporation; or

        (2) successor corporation;

    with the insurers of a transferor corporation before July 1, 2009, is determinative of the total coverage of liability insurance to be included in the calculation of a transferor corporation's total gross assets under this chapter.