Sec. 10. (a) The
commissioner, using money from the
fund, shall pay a part of every
liability that qualifies for partial payment under this chapter and under the terms of the coverage provided by the
commission according to rules adopted under this chapter.
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Terms Used In Indiana Code 27-1-29.1-10
- commission: refers to the Indiana political subdivision risk management commission established by IC 27-1-29-5. See Indiana Code 27-1-29.1-1
- Commissioner: means the "insurance commissioner" of this state. See Indiana Code 27-1-2-3
- fund: refers to the political subdivision catastrophic liability fund established by this chapter. See Indiana Code 27-1-29.1-2
- Insurance: means a contract of insurance or an agreement by which one (1) party, for a consideration, promises to pay money or its equivalent or to do an act valuable to the insured upon the destruction, loss or injury of something in which the other party has a pecuniary interest, or in consideration of a price paid, adequate to the risk, becomes security to the other against loss by certain specified risks; to grant indemnity or security against loss for a consideration. See Indiana Code 27-1-2-3
- liability: means an obligation arising from:
Indiana Code 27-1-29.1-3
- member: refers to any political subdivision that has a membership in the fund, as provided in section 9 of this chapter. See Indiana Code 27-1-29.1-4
- political subdivision: has the meaning set forth in IC 34-6-2-110. See Indiana Code 27-1-29.1-5
- underlying coverage: refers to any liability insurance policy that names a member of the fund or its officials or employees as a named insured, an additional named insured, an insured, or an additional insured. See Indiana Code 27-1-29.1-6
(1) is a liability covered under the coverage document issued by the commission to the member;
(2) arises out of an act or omission that takes place while the political subdivision bearing the liability is a member of the fund; and
(3) satisfies the minimum total amount requirement set forth in section 12 of this chapter.
(c) A liability of a member of the fund that has claims made basis underlying coverage qualifies for partial payment under this chapter if it:
(1) is a liability covered under the coverage document issued by the commission to the member;
(2) arises out of an act or omission with respect to which a claim is made while the political subdivision bearing the liability is a member of the fund;
(3) is covered by the underlying coverage; and
(4) satisfies the minimum total amount requirement set forth in section 12 of this chapter.
(d) For the purposes of subsection (c)(2) and section 11 of this chapter, the question of when and how a claim is made shall be determined by the provisions of the insurance policy providing the underlying coverage. However, if the underlying coverage is not applicable to a liability, a claim is considered to have been made for purposes of subsection (c)(2) when notice of a claim giving rise to the liability is received by the fund member from the claimant or the claimant’s representative.
As added by P.L.272-1987, SEC.7. Amended by P.L.159-1988, SEC.2.
