2023 Indiana Code › Title 27. Insurance › Article 1. Department of Insurance › Chapter 13. Casualty, Fire, and Marine Insurance Company Powers and Policy Requirements › 27-1-13-7. Policy Requirements

Sec. 7. (a) No policy of insurance against:
(1) a:
(A) loss or damage resulting from accident to; or
(B) death or injury suffered by;
an employee or other person or persons and for which the person or persons insured are liable; or
(2) a loss or damage to property resulting from collision with any moving or stationary object and for which loss or damage the person or persons insured are liable;
shall be issued or delivered in this state by any domestic or foreign corporation, insurance underwriters, association, or other insurer authorized to do business in this state, unless the requirements of subsection (b) are met.
(b) A policy described in subsection (a) must contain the following:
(1) A provision that:
(A) the insolvency or bankruptcy of the person or persons insured shall not release the insurance carrier from the payment of damages for injury sustained or loss occasioned during the life of the policy; and
(B) if execution against the insured is returned unsatisfied in an action brought by the injured person or his or her personal representative in case death resulted from the accident because of insolvency or bankruptcy described in clause (A) then an action may be maintained by the injured person, or his or her personal representative, against the domestic or foreign corporation, insurance underwriters, association or other insurer under the terms of the policy for the amount of the judgment in the said action not exceeding the amount of the policy.
(2) A provision that notice given by or on behalf of the insured to any authorized agent of the insurer within this state, with particulars sufficient to identify the insured, shall be deemed to be notice to the insurer.
(3) If the policy is to be issued or delivered in this state to the owner of a motor vehicle, a provision insuring the owner against liability for damages for death or injury to person or property resulting from negligence in the operation of the motor vehicle, in the business of the owner or otherwise, by any person legally using or operating the motor vehicle with the permission, expressed or implied, of the owner.
(c) If a motor vehicle is owned jointly by a husband and wife:
(1) either spouse may, with the written consent of the other spouse, be excluded from coverage under a policy described in subsection (b)(3); and
(2) the husband and wife may choose to have their liability covered under separate policies.
(d) This section does not prohibit an insurer from making available a named driver exclusion in a commercial motor vehicle policy.
(e) A policy issued in violation of this section shall, nevertheless, be held valid but be deemed to include the provisions required by this section, and when any provision in the policy or rider is in conflict with a provision required to be contained by this section, the rights, duties and obligations of the insurer, the policyholder and the injured person or persons shall be governed by the provisions of this section.
(f) No policy of insurance shall be issued or delivered in this state by any foreign or domestic corporation, insurance underwriters, association, or other insurer authorized to do business in this state, unless it contains a provision that authorizes such foreign or domestic corporation, insurance underwriters, association, or other insurer authorized to do business in this state to settle the liability of its insured under IC 34-18 without the consent of its insured when the unanimous opinion of the medical review panel under IC 34-18-10-22(b)(1) is that the evidence supports the conclusion that the defendant failed to comply with the appropriate standard of care as charged in the complaint.
Formerly: Acts 1935, c.162, s.177. As amended by Acts 1981, P.L.241, SEC.2; P.L.111-1998, SEC.1; P.L.72-2016, SEC.8.