This text of Massachusetts § 9 (Exhaustion of policy insolvency provisions on covered claims; reduction of recovery on policy from amount payable under this chapter; multiple funds) is published on Counsel Stack Legal Research, covering Massachusetts primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
[ Text of section effective until April 9, 2025. For text effective April 9, 2025, see below.]Section 9. Any person having a claim against his insurer under any insolvency provision in his insurance policy 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 chapter shall be reduced by the amount of such recovery under the claimant's insurance policy. Any person having a claim which may be recovered under more than one insurer's insolvency fund or its equivalent shall seek recovery first from the fund 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, such person shall seek recovery first from the fund of the location
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[ Text of section effective until April 9, 2025. For text effective April 9, 2025, see below.]Section 9. Any person having a claim against his insurer under any insolvency provision in his insurance policy 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 chapter shall be reduced by the amount of such recovery under the claimant's insurance policy. Any person having a claim which may be recovered under more than one insurer's insolvency fund or its equivalent shall seek recovery first from the fund 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, such person shall seek recovery first from the fund of the location of the property, but if it is a claim for compensation or other benefits under a workers' compensation policy, such person shall seek recovery first from the fund of the jurisdiction of the claimant's contract of hire. Any recovery under this chapter shall be reduced by the amount of the recovery from any other insurers' insolvency fund or its equivalent.Chapter 175D: Section 9. Joining of Fund with other organizations or associations; coordination with receivers and regulators[ Text of section as recodified by 2024, 389, Sec. 3 effective April 9, 2025. For text effective until April 9, 2025, see above.]Section 9. (a) The Fund may join 1 or more organizations or associations similar to the Fund to further the purposes and administer the powers and duties of the Fund. The Fund may designate 1 or more of these organizations or associations to act as a liaison for the Fund and, to the extent the Fund authorizes, to bind the Fund in agreements or settlements with receivers of insolvent insurance companies, or their designated representatives.(b) The Fund shall, in cooperation with organizations or associations similar to the Fund, or their designated representatives, reasonably coordinate and cooperate with receivers and regulators, or their designated representatives, in the commonwealth and other states to promote efficiency and uniformity, including the use of Uniform Data Standards as promulgated or approved by the National Association of Insurance Commissioners. The Fund may also authorize receivers to collect on its behalf amounts due to the Fund from policyholders and others persons.