Payment not required if final settlement less than 60% of available proceeds

Ind. Code § 27-2-24-10
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
Sec. 10. This chapter does not require an insurer that issued a policy of property or casualty insurance to pay a claim to an innocent coinsured if the final settlement for the property loss is less than sixty percent (60%) of available insurance proceeds under the policy. As added by P.L.148-2017, SEC.8.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/27Fetched: 10/17/2026

Starting a business in Indiana? Indiana LLC guide: costs and requirements