Colorado § 10-4-512 Nonduplication of recovery

Colorado Statutes

§ 10-4-512 — Nonduplication of recovery

Colorado § 10-4-512

Title 10Insurance

Art.Property and Casualty Insurance

This text of Colorado § 10-4-512 (Nonduplication of recovery) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 10-4-512 (2026).

Text

(1)Any person having a claim against an insurer under any provision in any insurance policy that is also a covered claim shall exhaust first the person's right under such policy. Any amount payable on a covered claim under this part 5 is reduced by the amount recoverable 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, recovery shall be sought from the association of the location of the property, and, if it is a workers' compensation claim, recovery shall be sought from the association of the residenc

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(1) Any person having a claim against
an insurer under any provision in any insurance policy that is also a covered claim
shall exhaust first the person's right under such policy. Any amount payable on a
covered claim under this part 5 is reduced by the amount recoverable 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, recovery shall be sought
from the association of the location of the property, and, if it is a workers'
compensation claim, recovery shall be sought from the association of the residence
of the claimant. A claimant or first-party insured who has received a recovery from
any other guaranty association or its equivalent in an amount equal to or greater
than the recovery allowed under this part 5 shall not be eligible to receive any
recovery from the Colorado insurance guaranty association. In addition, any
recovery under this part 5 shall be reduced by the amount of the recovery from any
other insurance guaranty association or its equivalent.

Legislative History

Source: L. 71: p. 761, � 1. C.R.S. 1963: � 72-34-12. L. 89: (2) amended, p. 454, � 2, effective April 17. L. 90: (2) amended, p. 559, � 19, effective July 1. L. 99: (2) amended, p. 88, � 6, effective August 4. L. 2011: (1) amended, (HB 11-1041), ch. 14, p. 40, � 3, effective August 10.