Indiana Code
Chapter 29.1. Political Subdivision Catastrophic Liability Fund
27-1-29.1-13. Liability Partial Payment Determination; Formula

Sec. 13. The amount that is to be paid by the commission toward the satisfaction of a liability qualifying for partial payment under this chapter is determined in STEP FOUR of the following formula:
STEP ONE: If the total amount of the liability exceeds five million dollars ($5,000,000), subtract five million dollars ($5,000,000) from the total amount of the liability.
STEP TWO: Add the remainder under STEP ONE to the minimum total amount figure that applies to the liability under section 12 of this chapter.
STEP THREE: Add to the sum determined under STEP TWO the total amount expended by the commission under section 16 of this chapter in defending the member of the fund against claims giving rise to the liability.
STEP FOUR: Subtract the sum determined under STEP THREE from the total amount of the liability.
As added by P.L.272-1987, SEC.7.

Structure Indiana Code

Indiana Code

Title 27. Insurance

Article 1. Department of Insurance

Chapter 29.1. Political Subdivision Catastrophic Liability Fund

27-1-29.1-1. "Commission" Defined

27-1-29.1-2. "Fund" Defined

27-1-29.1-3. "Liability" Defined

27-1-29.1-4. "Member" Defined

27-1-29.1-5. "Political Subdivision" Defined

27-1-29.1-6. "Underlying Coverage" Defined

27-1-29.1-7. Establishment of Fund; Purpose; Administration; Expenses; Depositories; Investment

27-1-29.1-8. Reserve Account; Issuance of Bonds to Establish Account; Use of Funds

27-1-29.1-9. Membership Eligibility; Rights and Duties

27-1-29.1-10. Liabilities Qualifying for Partial Payment From Fund; Notice of Claim

27-1-29.1-11. Preexisting Liabilities Qualifying for Partial Payment

27-1-29.1-12. Liabilities of Members That Are or Are Not Also Members of Political Subdivision Risk Management Fund; Conditional Payment

27-1-29.1-13. Liability Partial Payment Determination; Formula

27-1-29.1-14. Excess Coverage Provided

27-1-29.1-15. Single or Installment Payments; Limits

27-1-29.1-16. Defense of Claims; Expenses

27-1-29.1-17. Biannual Recognition of Liabilities; Payment; Proration in Event of Insufficient Funds

27-1-29.1-18. Punitive Damages; Bodily Injury or Property Damage; Installment Payments; Structured Settlements

27-1-29.1-19. Notice of Intent to Become Member of Fund

27-1-29.1-20. Implementing Rules; Coverage Limitations; Commission Powers; Rules Governing Relinquishment of Membership in Fund

27-1-29.1-21. Relinquishment of Membership in Fund; Prerelinquishment Liabilities; Assessments

27-1-29.1-22. Assessments on Members of Fund