Costs and expenses of asserting third party claim; payment by
insurer out of amount received from insured
Sec. 2. An insurer claiming subrogation or reimbursement rights
under this chapter shall pay, out of the amount received from the
insured, the insurer's pro rata share of the reasonable and necessary
costs and expenses of asserting the third party claim. These
reasonable and necessary costs and expenses include and are not
limited to the following:
(1) The cost of depositions.
(2) Witness fees.
(3) Attorney's fees to the lesser of:
(A) the amount contracted by the insured for the insured's
portion of the claim; or
(B) thirty-three and one-third percent (33 1/3%) of the
amount of the settlement.
As added by P.L.1-1998, SEC.49.
Last modified: May 24, 2006