(a) Pursuant to the reinsurance agreements, authorized by this article, the board shall, within ninety days after receiving the loss report, pay the insurer all amounts due out of the fund.
(b) No claim of an insured shall be paid by an insurer in respect of a loss covered by mine subsidence insurance prior to February 15, 1983. On and after February 15, 1983, all claims of insureds shall be paid within one hundred twenty days after proof of loss is presented to an insurer unless otherwise agreed by the insurer and claimant. Upon payment of the claim of an insured from the fund, the insured shall be deemed to have waived any cause of action for damages caused by subsidence to the extent of the payment from the fund.
Structure West Virginia Code
Article 30. Mine Subsidence Insurance
§33-30-1. Legislative Findings
§33-30-4. Mine Subsidence Insurance Fund
§33-30-5. State Support for Mine Subsidence Insurance Fund
§33-30-6. Mine Subsidence Coverage; Waivers
§33-30-7. Limited Right of Insurers to Refuse to Provide Subsidence Coverage
§33-30-8. Reinsurance Agreements