Indiana § 27-2-15-1 "Available insurance proceeds" defined

Indiana Statutes

§ 27-2-15-1 — "Available insurance proceeds" defined

Indiana § 27-2-15-1

Title 27INSURANCE

Art. 2POWERS AND DUTIES OF INSURERS

Ch. 15Available Insurance Proceeds Set Aside

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Bluebook

Ind. Code § 27-2-15-1 (2026).

Text

As used in this chapter, "available insurance proceeds" means the proceeds payable under an insurance policy based upon a claim for damage to or loss of a building or other structure caused by fire or explosion, minus proceeds paid to:

(1)the insured for emergency living expenses;

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

(3)prevent further damage to the premises; or

(4)a lienholder or mortgagee who is not the target of an investigation by an authorized agency (as defined in IC 27-2-13-1).

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As used in this chapter, "available insurance
proceeds" means the proceeds payable under an insurance policy based
upon a claim for damage to or loss of a building or other structure
caused by fire or explosion, minus proceeds paid to:
(1) the insured for emergency living expenses;
(2) take emergency action necessary to secure the premises;
(3) prevent further damage to the premises; or
(4) a lienholder or mortgagee who is not the target of an
investigation by an authorized agency (as defined in IC 27-2-13-1).