Indiana § 27-2-13-5 Withholding of insurance proceeds; exceptions

Indiana Statutes

§ 27-2-13-5 — Withholding of insurance proceeds; exceptions

Indiana·Title 27 INSURANCE·Art. 2 POWERS AND DUTIES OF INSURERS·Ch. 13 Arson Reporting

An authorized agency that is investigating a fire believed to have been caused by arson may, in writing, order an insurer to withhold payment of the proceeds of an insurance policy on the damaged or destroyed property for up to thirty (30) days from the date of the order. The insurer may not make a payment during that time, except for payments:

(1)for emergency living expenses;

(2)for emergency action necessary to secure the premises;

(3)necessary to prevent further damage to the premises; or

(4)to a mortgagee who is not the target of investigation by the authorized agency.

Free access — add to your briefcase to read the full text and ask questions with AI

An authorized agency that is investigating a
fire believed to have been caused by arson may, in writing, order an
insurer to withhold payment of the proceeds of an insurance policy on
the damaged or destroyed property for up to thirty (30) days from the
date of the order. The insurer may not make a payment during that
time, except for payments:
(1) for emergency living expenses;
(2) for emergency action necessary to secure the premises;
(3) necessary to prevent further damage to the premises; or
(4) to a mortgagee who is not the target of investigation by the
authorized agency.

Indiana § 27-2-13-5 (Withholding of insurance proceeds; exceptions) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.