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Indiana Political Subdivision Risk Management Commission

NOTICE: CLOSURE OF INDIANA POLITICAL SUBDIVISION RISK MANAGEMENT COMMISSION

During the 2023 session the Indiana General Assembly passed Senate Enrolled Act 353, which amended Ind. Code 27-1-29 and Ind. Code 27-1-29.1.  These amendments authorized the Commissioner of Indiana Department of Insurance (IDOI) to cease operation of the Indiana Political Subdivision Risk Management Commission (IPSRMC) management and catastrophic funds (each a “Fund” and collectively the “Funds”) upon a determination by the IDOI Commissioner that: (1) all political subdivisions that were members of the Fund have withdrawn from the Fund; and (2) all payment of the liabilities of former members of the Funds have been determined and finalized.

Senate Enrolled Act 353 also requires the IDOI Commissioner, when ceasing operation of the Funds, to distribute the balance in the Funds to former members of the Funds, distributing to each former member an amount proportional to the total of assessments and surcharges paid by the former member. It provides that the laws establishing the Funds expire when the IDOI Commissioner certifies to the executive director of the legislative services agency that: (1) the Funds have no remaining members; (2) all payments of liabilities of former members of the Funds have been determined and finalized; and (3) the balances in the Funds have been distributed to former members of the Funds. It amends a provision of the law concerning tort claims against governmental entities to provide that giving notice of a tort claim against a political subdivision to the IPSRMC is not required if the law establishing the IPSRMC has expired.

Potential claimants are former members of the IPSRMC.

Any claim against IPSRMC must be asserted as a proof of claim on or before January 15, 2024. Proof of claim forms and instructions are linked below:

IPSRMC Proof of Claim Form

YOUR PROOF OF POTENTIAL CLAIM FOR FUND DISTRIBUTION MUST BE POST-MARKED OR RECEIVED BY THE IDOI NO LATER THAN JANUARY 15, 2024, OR YOUR CLAIM WILL BE BARRED. THE BAR DATE DOES NOT TOLL OR EXTEND ANY PERIOD OF LIMITATION, OR STATUTE OF LIMITATION OR OF REPOSE, OR CONTRACTUAL TIME LIMIT, FOR FILING ANY CLAIM FOR LOSS WHICH MAY BE FILED AGAINST YOUR POLITICAL SUBDIVISION.

THIS NOTICE IS NOT AN ADMISSION THAT ANY ASSERTED CLAIM FOR FUND DISTRIBUTION IS VALID OR THAT IT WILL BE ALLOWED IN THE FUND TERMINATION.

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Indiana Political Subdivision Risk Management Fund and the Indiana Political Subdivision Catastrophic Liability Fund Tort Claims Process

This commission runs the Indiana Political Subdivision Risk Management Fund and the Indiana Political Subdivision Catastrophic Liability Fund, which provides insurance of last resort to Indiana cities, counties, and other political subdivisions.  Political subdivisions wishing to purchase insurance from the commission may do so through a licensed producer or directly from the commission.

Please send claims filed in accordance with IC 34-13-3-8 to:

Indiana Political Subdivision Risk Management Commission
311 W Washington St, Suite 103
Indianapolis, IN  46204

Indiana Code 27-1-29 for the Indiana Political Subdivision Risk Management Commission
Indiana Code 27-1-29.1 for the Political Subdivision Catastrophic Liability Fund
762 Indiana Administrative Code 2-1-1 regarding membership in Political Subdivision Risk Management Fund and Catastrophic Liability Fund

For further information, please contact:

Daniel J. Schoettle, CPA

Manager

Noble Consulting Services, Inc.

211 N. Pennsylvania Street, Suite 2350

Indianapolis, IN 46204

(317) 608-4178
dschoettle@noblecon.net