§ 27-5.1-2-29 — Notice of intent to waive term of policy, right, or defense

Indiana § 27-5.1-2-29

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 5.1: FARM MUTUAL INSURANCE COMPANIES

Text

(a) A farm mutual insurance company may
not waive:
(1) a term of an insurance policy; or
(2) a right or defense of the farm mutual insurance company;
unless the farm mutual insurance company states in a letter or other
written or printed document to a policyholder that the farm mutual
insurance company intends to specifically waive the term, right, or
defense.
(b) A letter or other written or printed document required under
subsection (a) must include the signature of an officer or other
representative of the farm mutual insurance company who is authorized
to execute the particular type of waiver.
(c) A letter or other written or printed document under this section
is the only admissible evidence of a waiver by the farm mutual
insurance company.

Legislative History

As added by P.L.129-2003, SEC.8.