Alaska Statutes Sec. 21.80.100 - Nonduplication of Recovery

(a) A person having a claim against an insurer, whether or not the insurer is a member insurer, under a provision in an insurance policy other than a policy of an insolvent insurer that is also a covered claim is required to exhaust first the person's right under the policy. An amount payable on a covered claim under this chapter shall be reduced by the amount of recovery under the insurance policy.

(b) A 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, the person shall seek recovery first from the association of the location of the property, and if it is a workers' compensation claim, the person shall seek recovery first from the association of the residence of the claimant. A recovery under this chapter shall be reduced by the amount of recovery from any other insurance guaranty association or its equivalent.

Section: Previous  21.80.040  21.80.050  21.80.060  21.80.070  21.80.080  21.80.090  21.80.095  21.80.100  21.80.110  21.80.120  21.80.130  21.80.140  21.80.150  21.80.160  21.80.170  Next

Last modified: November 15, 2016