Sec. 4. (a) An advance payment made by an insurance company on behalf of an insured does not increase the limits of liability of the insurance company under any existing policy of insurance.

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Terms Used In Indiana Code 34-44-2-4

  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
     (b) The amount of an advance payment made in respect to any claim shall be credited against any obligation of the insurance company in respect to the claim.

[Pre-1998 Recodification Citation: 34-3-2.5-3.]

As added by P.L.1-1998, SEC.40.

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