Indiana § 27-1-31-2 Grounds for cancellation; notice of cancellation

Indiana Statutes

§ 27-1-31-2 — Grounds for cancellation; notice of cancellation

Indiana·Title 27 INSURANCE·Art. 1 DEPARTMENT OF INSURANCE·Ch. 31 Cancellation and Nonrenewal of Commercial Property

(a)An insurer may not cancel a policy of insurance that the insurer has written that has been in effect more than ninety (90) days unless:

(1)the insured under the policy has failed to pay the premium;

(2)there is a substantial change in the scale of risk covered by the policy;

(3)the insured has perpetrated a fraud or material misrepresentation upon the insurer;

(4)the insured has failed to comply with reasonable safety recommendations; or

(5)reinsurance of the risk associated with the policy has been cancelled.

(b)An insurer shall mail a written notice of cancellation to a person insured under a policy issued by the insurer at least:

(1)forty-five (45) days before cancelling the policy for any reason set forth in subsection (a)(2), (a)(4), or (a)(5);

(2)twenty (20) days before c

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(a) An insurer may not cancel a policy of
insurance that the insurer has written that has been in effect more than
ninety (90) days unless:
(1) the insured under the policy has failed to pay the premium;
(2) there is a substantial change in the scale of risk covered by the
policy;
(3) the insured has perpetrated a fraud or material
misrepresentation upon the insurer;
(4) the insured has failed to comply with reasonable safety
recommendations; or
(5) reinsurance of the risk associated with the policy has been
cancelled.
(b) An insurer shall mail a written notice of cancellation to a person
insured under a policy issued by the insurer at least:
(1) forty-five (45) days before cancelling the policy for any reason
set forth in subsection (a)(2), (a)(4), or (a)(5);
(2) twenty (20) days before cancelling the policy for the reason set
forth in subsection (a)(3); or
(3) ten (10) days before cancelling the policy for the reason set
forth in subsection (a)(1).

Indiana § 27-1-31-2 (Grounds for cancellation; notice of cancellation) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.