Sec. 2. (Purpose) The purpose of this chapter is to provide a mechanism for the payment of claims under certain insurance policies to avoid excessive delay in payment and to avoid excessive financial loss to claimants or policyholders because of the insolvency of an insurer, to assist in the detection and prevention of insurer insolvencies, and to provide an association to assess the cost of this protection among insurers.
Formerly: Acts 1971, P.L.390, SEC.1.
Structure Indiana Code
Article 6. Reinsurance; Interinsurance; Reciprocal Insurance
Chapter 8. Property and Casualty Insurance and Guaranty Association Law
27-6-8-0.1. Application of Certain Amendments to Chapter
27-6-8-5. Creation of the Association
27-6-8-7. Powers and Duties of the Association
27-6-8-9. Powers and Duties of Commissioner
27-6-8-10. Effect of Paid Claims
27-6-8-11. Nonduplication of Recovery
27-6-8-11.5. High Net Worth Insureds; Financial Information
27-6-8-12. Prevention of Insolvencies
27-6-8-13. Examination of the Association
27-6-8-15. Recoupment of Assessments; Tax Credits
27-6-8-17. Stay of Proceedings; Reopening of Default Judgments