Indiana § 27-1-31-3 - Notice of nonrenewal

§ 27-1-31-3. Notice of nonrenewal

Sec. 3. (a) Except as provided in subsection (b), if an insurer refuses to renew a policy of insurance written by the insurer, the insurer shall mail written notice of nonrenewal to the insured:

(1) at least forty-five (45) days before the expiration date of the policy, if the coverage provided is for one (1) year, or less; or

(2) at least forty-five (45) days before the anniversary date of the policy, if the coverage provided is for more than one (1) year.

(b) This subsection does not apply to worker's compensation insurance. If an insurer refuses to renew a policy of insurance written by the insurer, the insurer shall mail written notice of nonrenewal to the insured at least sixty (60) days before the anniversary date of the policy if the coverage is provided to a municipality (as defined in IC 36-1-2-11) or county entity.

(c) A notice of nonrenewal is not required if:

(1) the insured is transferred from an insurer to an affiliate of the insurer for future coverage; and

(2) the transfer results in the same or broader coverage.

As added by P.L.271-1987, SEC.4. Amended by P.L.160-2003, SEC.23; P.L.148-2017, SEC.7; P.L.196-2021, SEC.28; P.L.158-2024, SEC.11.

IC 27-1-32Chapter 32. RepealedRepealed by P.L.1-1992, SEC.147.

IC 27-1-33Chapter 33. Managing General Agents

27-1-33-1Actuary 27-1-33-2Commissioner 27-1-33-3Insurer 27-1-33-4Managing general agent 27-1-33-5Underwrite 27-1-33-6Acting in capacity of MGA with respect to risks; prohibitions; bond; errors and omissions policy 27-1-33-7Placement of business with an insurer; contract; contents 27-1-33-8Independent financial examination; loss reserves; on-site review of underwriting and claims; reinsurance; termination of contracts; review of books and records; board of directors 27-1-33-9Actions of MGA; examinations 27-1-33-10Violations; penalties; civil actions 27-1-33-11Rules for implementation and administration of chapter