§ 27-1-31-3 — Notice of nonrenewal

Indiana § 27-1-31-3

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

Text

(a) Except as provided in subsection (b), if an
insurer refuses to renew a policy of insurance written by the insurer, the
insurer shall mail written notice of nonrenewal to the insured:
(1) at least forty-five (45) days before the expiration date of the
policy, if the coverage provided is for one (1) year, or less; or
(2) at least forty-five (45) days before the anniversary date of the
policy, if the coverage provided is for more than one (1) year.
(b) This subsection does not apply to worker's compensation
insurance. If an insurer refuses to renew a policy of insurance written
by the insurer, the insurer shall mail written notice of nonrenewal to the
insured at least sixty (60) days before the anniversary date of the policy
if the coverage is provided to a municipality (as defined in IC 36-1-2-11) or county entity.
(c) A notice of nonrenewal is not required if:
(1) the insured is transferred from an insurer to an affiliate of the
insurer for future coverage; and
(2) the transfer results in the same or broader coverage.

Legislative History

As added by P.L.271-1987, SEC.4. Amended by P.L.160-2003, SEC.23; P.L.148-2017, SEC.7; P.L.196-2021, SEC.28; P.L.158-2024, SEC.11.