(1) If, in settlement of a claim under an * insurance policy, an insurer:
(a) makes a payment of * money; or
(b) makes a supply; or
(c) makes both a payment of money and a supply;
the payment or supply is not treated as * consideration for an acquisition made by the insurer.
(2) This section has effect despite section 11-5 (which is about what is a creditable acquisition).