Indiana Code 27-1-29.1-11. Preexisting liabilities qualifying for partial payment
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Sec. 11. A liability that arises out of an act or omission that takes place before the political subdivision bearing the liability becomes a member of the fund does not qualify for partial payment under this chapter unless the liability:
(A) is issued to the fund member; and
(1) is expressly covered by the provisions of a coverage document that:
Terms Used In Indiana Code 27-1-29.1-11
- fund: refers to the political subdivision catastrophic liability fund established by this chapter. See Indiana Code 27-1-29.1-2
- 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
(B) is in effect when the claim is made; and
(2) is also covered by the underlying coverage that is claims made basis coverage.
As added by P.L.272-1987, SEC.7.