(1) Any person having a claim against an insurer under any provision in an insurance policy other than a policy of an insolvent insurer which is also a covered claim, shall not be required to exhaust first her or his rights under such a policy. Any amount payable on a covered claim under this part shall be reduced by the amount of any recovery under such insurance policy.
(2) Any person having a claim which may be recovered under more than one insurance guaranty association or its equivalent shall seek recovery first from the association of the place of residence of the insured, except that if it is a first-party claim for damage to property with a permanent location, the person shall seek recovery first from the association of the location of the property, and if it is a workers’ compensation plan, the person shall seek recovery first from the association of the residence of the claimant. Any recovery under this part shall be reduced by the amount of recovery from any other insurance guaranty association or its equivalent.
History.—s. 12, ch. 70-20; s. 119, ch. 79-40; s. 809(1st), ch. 82-243; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429; s. 413, ch. 97-102.
Structure Florida Statutes
Chapter 631 - Insurer Insolvency; Guaranty of Payment
Part II - Florida Insurance Guaranty of Payments (Ss. 631.50-631.70)
631.55 - Creation of the association.
631.57 - Powers and duties of the association.
631.582 - Public records exemption.
631.59 - Duties and powers of department and office.
631.60 - Effect of paid claims.
631.61 - Nonduplication of recovery.
631.62 - Prevention of insolvencies.
631.63 - Examination of the association.
631.64 - Recognition of assessments.
631.65 - Advertisement or solicitation.
631.67 - Stay of proceedings; reopening of default judgments.
631.68 - Limitation; certain actions.
631.695 - Revenue bond issuance through counties or municipalities.