Ind. Code § 27-5.1-2-34
Notice of premium plus assessment policy; civil actions; limitation
Indiana · Indiana Code Title 27 — Insurance · Status: effective
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- Ind. Code § 27-5.1-2-34, Notice of premium plus assessment policy; civil actions; limitation, Indiana, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1663289
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Full text
Sec. 34.
(a) A premium plus assessment insurance policy must expressly and prominently state on the face page of the insurance policy that the insurance policy is a premium plus assessment insurance policy.
(b) A suit or action for a loss under a premium plus assessment insurance policy may not be commenced until:
(1) the loss is due in accordance with the premium plus assessment insurance policy; or
(2) not less than sixty (60) days after proof of loss was given to the farm mutual insurance company that issued the premium plus assessment insurance policy.
(c) Requirements that a policyholder must meet to sustain a legal cause of action under this section must be disclosed clearly and prominently on the face page of the premium plus assessment insurance policy.
(d) Notwithstanding IC 34-11-2-11, the statute of limitations for a claim on a premium plus assessment insurance policy under this section is two (2) years after the date of the loss.