Indiana statute
Ind. Code § 35-43-5-4.7 — Insurance fraud
Current through 2026 Regular Session
Part of Chapter 5: Forgery, Fraud, and Other Deceptions, Indiana Code.
Criminal charges under this statute
Full text of Ind. Code § 35-43-5-4.7
Statutory text current through the 2026 Regular Session. This publication reproduces the official statutory text; it is not the official statutes of the State of Indiana.
Sec. 4.7. (a) A person who, knowingly or intentionally: (1) solicits or accepts new or renewal insurance risks by or for an insolvent insurer or other entity regulated under IC 27 ; (2) removes: (A) the assets; (B) the record of assets, transactions, and affairs; or (C) a material part of the assets or the record of assets, transactions, and affairs; of an insurer or another entity regulated under IC 27 , from the home office, other place of business, or place of safekeeping of the insurer or other regulated entity, or conceals or attempts to conceal from the department of insurance assets or records referred to in clauses (A) through (B); or (3) diverts funds of an insurer or another person in connection with: (A) the transaction of insurance or reinsurance; (B) the conduct of business activities by an insurer or another entity regulated under IC 27 ; or (C) the formation, acquisition, or dissolution of an insurer or another entity regulated under IC 27 ; commits insurance fraud, a Class A infraction. (b) Notwithstanding IC 34-28-5-4 , a judgment of up to one hundred thousand dollars ($100,000) may be entered for a violation of this section. In determining the amount of the judgment, the court shall consider: (1) whether the person who commits the violation has a prior unrelated judgment under this section or conviction under this article; (2) the: (A) value of property, services, or other benefits obtained or attempted to be obtained by the person as a result of the violation; (B) economic loss suffered by another person as a result of the violation; and (C) risk and magnitude of economic loss to another person which could have resulted as a consequence of the violation; and (3) whether the judgment imposed is proportional to the gravity of the offense.
Official sources
Legal terms used in this section
Questions this section answers
Is insurance fraud a felony or a misdemeanor in Indiana?
Insurance fraud is a Class A Infraction in Indiana under Ind. Code § 35-43-5-4.7.
Which Indiana statute covers insurance fraud?
Insurance fraud is governed by Ind. Code § 35-43-5-4.7 (Insurance fraud).
This reference is informational and is not legal advice.