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Indiana General Assembly
House Bill 1120


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House Bill 1120

ARCHIVE (2001)

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DIGEST OF HB 1120 (Updated April 29, 2001 8:19 PM - DI 97)

Mine subsidence and insurance. Defines "person" for purposes of the insurance producer licensing statute. Revises a provision of the insurance producer licensure statute concerning violations. Effective September 1, 2001, removes a June 30, 2000, expiration of the requirement that an insurer inform a prospective policyholder of the availability of mine subsidence insurance. Increases the maximum limit of mine subsidence coverage that an insurer agrees to cede to the commissioner of the department of insurance under a reinsurance agreement from $100,000 to $200,000 per structure. Requires the department of insurance to publish a report every three years regarding mine subsidence insurance. Makes a conforming amendment.
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 Law Enacted
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