§ 34-31-8-11 — Liability insurance

Indiana § 34-31-8-11

• Jurisdiction: Indiana
• Title 34: CIVIL LAW AND PROCEDURE
• Art. 31: LIMITED LIABILITY
• Ch. 8: Limited Liability Concerning Asbestos Related Claims

Text

(a) If the total gross assets of a transferor
corporation include liability insurance issued to the transferor
corporation, this chapter does not affect the applicability, terms,
conditions, or limits of the liability insurance.
(b) This chapter does not affect the rights and obligations of an
insurer, transferor, or successor under an insurance contract or any
related agreements, including:
(1) preenactment settlements resolving coverage related disputes;
or
(2) contracts regarding the rights of an insurer to seek payment for
applicable deductibles, retrospective premiums, self-insured
periods, or periods as to which insurance is uncollectible or
unavailable.
(c) A settlement of a dispute concerning liability insurance coverage
entered into by a:
(1) transferor corporation; or
(2) successor corporation;
with the insurers of a transferor corporation before July 1, 2009, is
determinative of the total coverage of liability insurance to be included
in the calculation of a transferor corporation's total gross assets under
this chapter.

Legislative History

As added by P.L.134-2009, SEC.6.