§ 27-1-29.1-12 — Liabilities of members that are or are not also members of political subdivision risk management fund; conditional payment

Indiana § 27-1-29.1-12

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 1: DEPARTMENT OF INSURANCE
• Ch. 29.1: Political Subdivision Catastrophic Liability Fund

Text

(a) A liability of a member of the fund that
is not a member of the political subdivision risk management fund
under IC 27-1-29 does not qualify for partial payment under this
chapter unless the total amount of the liability exceeds:
(1) one million dollars ($1,000,000); or
(2) another sum that is:
(A) greater than one million dollars ($1,000,000); and
(B) approved by the commission as a provision of the fund
member's coverage because the fund member has underlying
coverage with limits of liability that exceed one million dollars
($1,000,000).
(b) A liability of a member of the fund that is also a member of the
political subdivision risk management fund under IC 27-1-29 does not
qualify for partial payment under this chapter unless the amount of the
liability exceeds the amount of liability payable by the commission
under IC 27-1-29 under the terms of the coverage document that is
issued to the fund member and applicable to the liability.

Legislative History

As added by P.L.272-1987, SEC.7.