§ 27-7-9-8.5 — Limitation on amount payable; one mine subsidence occurrence; damage occurring before issuance of policy; duty to investigate; liability

Indiana § 27-7-9-8.5

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 7: SPECIAL TYPES OF INSURANCE
• Ch. 9: Mine Subsidence Insurance

Text

5. (a) The amount payable through mine
subsidence insurance provided under this chapter for all damage
caused by one (1) mine subsidence occurrence is limited to the amount
of insurance that:
(1) is in force with respect to the structure or structures damaged
in the occurrence; and
(2) is reinsured under section 9 of this chapter;
at the time when the damage to the structure or structures occurs.
(b) For the purposes of this section, all damage that is caused by:
(1) a single mine subsidence event; or
(2) two (2) or more mine subsidence events that are continuous;
shall be considered as having been caused by one (1) mine subsidence
occurrence.
(c) Neither an insurer, an agent of an insurer, nor an employee of an
insurer is obligated to investigate for mine subsidence damage that may
have occurred before the issuance or renewal of a policy including
mine subsidence coverage under this chapter, unless specifically
informed of such damage by the insured or prospective insured.
(d) Neither an insurer, an agent of an insurer, nor an employee of an
insurer is liable for mine subsidence damage that occurs before the
issuance of a policy including mine subsidence coverage under this
chapter.

Legislative History

As added by P.L.150-1990, SEC.2. Amended by P.L.124-1992, SEC.6.