§ 3420. Liability insurance; standard provisions; right of injured\nperson. (a) No policy or contract insuring against liability for injury\nto person, except as provided in subsection (g) of this section, or\nagainst liability for injury to, or destruction of, property shall be\nissued or delivered in this state, unless it contains in substance the\nfollowing provisions or provisions that are equally or more favorable to\nthe insured and to judgment creditors so far as such provisions relate\nto judgment creditors:\n (1) A provision that the insolvency or bankruptcy of the person\ninsured, or the insolvency of the insured's estate, shall not release\nthe insurer from the payment of damages for injury sustained or loss\noccasioned during the life of and within the coverage of such policy or\ncontract.\n (2) A provision that in case judgment against the insured or the\ninsured's personal representative in an action brought to recover\ndamages for injury sustained or loss or damage occasioned during the\nlife of the policy or contract shall remain unsatisfied at the\nexpiration of thirty days from the serving of notice of entry of\njudgment upon the attorney for the insured, or upon the insured, and\nupon the insurer, then an action may, except during a stay or limited\nstay of execution against the insured on such judgment, be maintained\nagainst the insurer under the terms of the policy or contract for the\namount of such judgment not exceeding the amount of the applicable limit\nof coverage under such policy or contract.\n (3) A provision that notice given by or on behalf of the insured, or\nwritten notice by or on behalf of the injured person or any other\nclaimant, to any licensed agent of the insurer in this state, with\nparticulars sufficient to identify the insured, shall be deemed notice\nto the insurer.\n (4) A provision that failure to give any notice required to be given\nby such policy within the time prescribed therein shall not invalidate\nany claim made by the insured, an injured person or any other claimant\nif it shall be shown not to have been reasonably possible to give such\nnotice within the prescribed time and that notice was given as soon as\nwas reasonably possible thereafter.\n (5) A provision that failure to give any notice required to be given\nby such policy within the time prescribed therein shall not invalidate\nany claim made by the insured, injured person or any other claimant,\nunless the failure to provide timely notice has prejudiced the insurer,\nexcept as provided in paragraph four of this subsection. With respect to\na claims-made policy, however, the policy may provide that the claim\nshall be made during the policy period, any renewal thereof, or any\nextended reporting period, except as provided in paragraph four of this\nsubsection. As used in this paragraph, the terms "claims-made policy"\nand "extended reporting period" shall have their respective meanings as\nprovided in a regulation promulgated by the superintendent.\n (6) A provision that, with respect to a claim arising out of death or\npersonal injury of any person, if the insurer disclaims liability or\ndenies coverage based upon the failure to provide timely notice, then\nthe injured person or other claimant may maintain an action directly\nagainst such insurer, in which the sole question is the insurer's\ndisclaimer or denial based on the failure to provide timely notice,\nunless within sixty days following such disclaimer or denial, the\ninsured or the insurer: (A) initiates an action to declare the rights of\nthe parties under the insurance policy; and (B) names the injured person\nor other claimant as a party to the action.\n (b) Subject to the limitations and conditions of paragraph two of\nsubsection (a) of this section, an action may be maintained by the\nfollowing persons against the insurer upon any policy or contract of\nliability insurance that is governed by such paragraph, to recover the\namount of a judgmen
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