Ind. Code § 27-2-15-1
"Available insurance proceeds" defined
Indiana · Indiana Code Title 27 — Insurance · Status: effective
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- Ind. Code § 27-2-15-1, "Available insurance proceeds" defined, Indiana, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1662897
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Full text
Sec. 1. As used in this chapter, "available insurance proceeds" means the proceeds payable under an insurance policy based upon a claim for damage to or loss of a building or other structure caused by fire or explosion, minus proceeds paid to:
(1) the insured for emergency living expenses;
(2) take emergency action necessary to secure the premises;
(3) prevent further damage to the premises; or
(4) a lienholder or mortgagee who is not the target of an investigation by an authorized agency (as defined in IC 27-2-13-1).