41-3612. EXHAUSTION OF OTHER COVERAGE. (1) Any person having a claim against an insurer, whether or not the insurer is a member insurer, under any provision in an insurance policy other than a policy of an insolvent insurer which is also a covered claim, shall be required to exhaust first his right under such policy. Any amount payable on a covered claim under this act 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, he shall seek recovery first from the association of the location of the property, and if it is a worker’s compensation claim, he shall seek recovery first from the association of the residence of the claimant. Any recovery under this act shall be reduced by the amount of recovery from any other insurance guaranty association or its equivalent.
History:
[41-3612, added 1970, ch. 152, sec. 12, p. 462; am. 1997, ch. 109, sec. 10, p. 264.]
Structure Idaho Code
Chapter 36 - INSURANCE GUARANTY ASSOCIATION
Section 41-3601 - SHORT TITLE.
Section 41-3603 - APPLICATION OF ACT.
Section 41-3605 - DEFINITIONS.
Section 41-3606 - INSURANCE GUARANTY ASSOCIATION — INSURERS REQUIRED TO BE MEMBERS — PURPOSES.
Section 41-3608 - OBLIGATIONS AND POWERS OF ASSOCIATION.
Section 41-3610 - DUTIES AND POWERS OF DIRECTOR — JUDICIAL REVIEW.
Section 41-3612 - EXHAUSTION OF OTHER COVERAGE.
Section 41-3613 - PREVENTION OF INSOLVENCIES.
Section 41-3614 - REGULATION BY DIRECTOR — ANNUAL REPORTS TO DIRECTOR.
Section 41-3615 - EXEMPTION FROM TAXES — EXCEPTION.
Section 41-3616 - CREDITS FOR ASSESSMENTS PAID.
Section 41-3617 - NO LIABILITY FOR ACTIONS TAKEN PURSUANT TO ACT.
Section 41-3619 - PROTECTION OF ACT NOT USED TO SELL INSURANCE.