2021 Indiana Code
Title 27. Insurance
Article 9. Supervision; Rehabilitation; Liquidation
Chapter 3.1. Treatment of Certain Agreements
27-9-3.1-19. Claim Arising From Disaffirmance or Repudiation

Sec. 19. (a) Notwithstanding IC 27-9-3 and this chapter, a claim of a counterparty against an estate arising from an insurer's receiver's disaffirmance or repudiation of a netting agreement or qualified financial contract that has not been previously affirmed in the liquidation or immediately preceding conservation or rehabilitation case must be determined and allowed or disallowed:

(1) as if the claim had arisen before the date of the filing of the petition for liquidation; or

(2) if a conservation or rehabilitation proceeding is converted to a liquidation proceeding, as if the claim had arisen before the date of the filing of the petition for conservation or rehabilitation.

(b) The amount of a claim described in subsection (a) is the actual direct compensatory damages determined as of the date of the disaffirmance or repudiation of the netting agreement or qualified financial contract.

As added by P.L.11-2011, SEC.36.