Florida § 631.902 Purposes

Florida Statutes

§ 631.902 — Purposes

Florida § 631.902

TitleXXXVII

Ch. 631INSURER INSOLVENCY; GUARANTY OF PAYMENT

This text of Florida § 631.902 (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. § 631.902 (2026).

Text

The purposes of this part are to:

(1)Create a not-for-profit Florida Workers’ Compensation Insurance Guaranty Association, Incorporated, to provide a mechanism for the payment of covered claims under chapter 440 to avoid excessive delay in payment and to avoid financial loss to claimants because of the insolvency of a member insurer.

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

(3)Allocate the cost of such protection among the insurers.

(4)Provide for the prompt payment by the corporation of workers’ compensation claims incurred by insolvent insurers.

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The purposes of this part are to:

(1) Create a not-for-profit Florida Workers’ Compensation Insurance Guaranty Association, Incorporated, to provide a mechanism for the payment of covered claims under chapter 440 to avoid excessive delay in payment and to avoid financial loss to claimants because of the insolvency of a member insurer.

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

(3) Allocate the cost of such protection among the insurers.

(4) Provide for the prompt payment by the corporation of workers’ compensation claims incurred by insolvent insurers.