Florida § 631.51 Purposes

Florida Statutes

§ 631.51 — Purposes

Florida § 631.51

TitleXXXVII

Ch. 631INSURER INSOLVENCY; GUARANTY OF PAYMENT

This text of Florida § 631.51 (Purposes) is published on Counsel Stack Legal Research, covering Florida primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Fla. Stat. § 631.51 (2026).

Text

The purposes of this part are to:

(1)Provide a mechanism for the payment of covered claims under certain insurance policies to avoid excessive delay in payment and to avoid financial loss to claimants or policyholders because of the insolvency of an insurer;

(2)Assist in the detection and prevention of insurer insolvencies;

(3)Create a nonprofit corporation to administer and supervise the operation of such association; and

(4)Assess the cost of such protection among insurers.

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The purposes of this part are to:

(1) Provide a mechanism for the payment of covered claims under certain insurance policies to avoid excessive delay in payment and to avoid financial loss to claimants or policyholders because of the insolvency of an insurer;

(2) Assist in the detection and prevention of insurer insolvencies;

(3) Create a nonprofit corporation to administer and supervise the operation of such association; and

(4) Assess the cost of such protection among insurers.