Sec. 29. (a) Except as otherwise provided by
statute, a policy is enforceable against the
insurer according to its terms, even if the policy exceeds the authority of the insurer.
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Terms Used In Indiana Code 27-1-3-29
- insurer: means a company, firm, partnership, association, order, society or system making any kind or kinds of insurance and shall include associations operating as Lloyds, reciprocal or inter-insurers, or individual underwriters. See Indiana Code 27-1-2-3
- policyholder: means one who is a holder of a contract of insurance in an insurance company. See Indiana Code 27-1-2-3
- Statute: A law passed by a legislature.
(c) Upon the written request of the policyholder or the insured whose rights under the policy are continuing and not transitory, an insurer shall reform and reissue its written policy to comply with the requirements of the law existing at the date of issue or last renewal of the policy.
As added by P.L.268-1999, SEC.2.
