Indiana Code 34-44-2-4. Insurance companies
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Sec. 4. (a) An advance payment made by an insurance company on behalf of an insured does not increase the limits of liability of the insurance company under any existing policy of insurance.
(b) The amount of an advance payment made in respect to any claim shall be credited against any obligation of the insurance company in respect to the claim.
[Pre-1998 Recodification Citation: 34-3-2.5-3.]
As added by P.L.1-1998, SEC.40.
Terms Used In Indiana Code 34-44-2-4
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.