Second Regular Session of the 123rd General Assembly (2024)
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HOUSE ENROLLED ACT No. 1359
AN ACT to amend the Indiana Code concerning probate.
Be it enacted by the General Assembly of the State of Indiana:
SECTION 1. IC 27-1-13-18, AS ADDED BY HEA 1034-2024,
SECTION 1, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JULY 1, 2024]: Sec. 18. (a) This section applies to a loss or damages
incurred after December 31, 2024, June 30, 2025, for a policy of
insurance that is described in:
(1) Class 3 of IC 27-1-5-1; or
(2) Class 2 of IC 27-1-5-1, except for a policy of insurance that is
described in Class 2(j) of IC 27-1-5-1.
(b) This section applies regardless of whether the policy of
insurance was created before, on, or after January 1, 2025, July 1,
2025, unless the application of this section to the policy of insurance
would:
(1) for a policy issued before January 1, 2025, July 1, 2025, give
a right to a beneficiary that the beneficiary was not reasonably
intended to have, other than the beneficiary's right to insurance
coverage until the time limitation described in subsection (e); or
(2) for a policy issued at any time, relieve a beneficiary from a
duty or liability imposed on the insured by the terms of the policy.
(c) The following definitions apply throughout this section:
(1) "Beneficiary" has the meaning set forth in IC 32-17-14-3(1).
(2) "Insurable interest" means an insured's interest in real or
personal property, concerning which the insured is entitled to the
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benefits of insurance coverage under a property and casualty
insurance policy or liability insurance policy.
(3) "Insured" means a person who is entitled to the benefits of
insurance coverage under a property and casualty insurance
policy or liability insurance policy.
(4) "Named insured" means a person identified by name as an
insured under a property and casualty insurance policy or liability
insurance policy.
(5) "Property and casualty insurance policy or liability insurance
policy" means a policy of insurance that is described in Class 2 or
Class 3 of IC 27-1-5-1.
(6) "Transfer" means an ownership change in a named insured's
insurable interest in real or personal property to a beneficiary of
a transfer on death transfer that occurs as a consequence of the
named insured's death.
(7) "Transferee" means a person who has acquired or received a
named insured's insurable interest in real or personal property
through a transfer.
(8) "Transfer on death transfer" has the meaning set forth in
IC 32-17-14-3(17).
(d) Subject to subsection (e), each transferee of a named insured's
insurable interest in real or personal property is also an insured to the
extent of the named insured's insurable interest in real or personal
property that the transferee has acquired or received through a transfer.
(e) Except as provided in subsections (f) and (g) and IC 32-38-3-1,
for a period of sixty (60) days immediately following the death of the
insured, each transferee is an insured under a property and casualty
insurance policy or liability insurance policy insuring the real or
personal property the transferee acquired or received through a
transfer. At the time of the insured's death, the transferee succeeds to
the rights and obligations of the insured under the property and
casualty insurance policy or liability insurance policy, to the extent of
the insured's insurable interest in real or personal property that the
transferee has acquired or received through a transfer, for the sixty (60)
day period.
(f) If a property and casualty insurance policy or liability insurance
policy has a policy expiration date that is less than sixty (60) days after
the death of the insured, insurance coverage continues for either:
(1) thirty (30) days; or
(2) the policy expiration date;
whichever is later.
(g) If a transferee obtains a property and casualty insurance policy
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or liability insurance policy insuring the real or personal property the
transferee acquired or received through a transfer, the transferee is not
an insured on the insurance policy described in subsection (e) once the
transferee's property and casualty insurance policy or liability insurance
policy becomes effective.
HEA 1359 — CC 1 Speaker of the House of Representatives
President of the Senate
President Pro Tempore
Governor of the State of Indiana
Date: Time:
HEA 1359 — CC 1