Florida Statutes Part III - Life And Health Insurance Guaranty Of Payments (Ss. 631.711-631.737)

• 631.711 - Short Title.
  This part may be cited as the “Florida Life and Health Insurance Guaranty Association Act.”History.—s. 1, ch. 79-189; s. 809(1st), ch. 82-243; ss. 187, 188,...
• 631.712 - Purpose; Construction.
  The purpose of this part is to protect policyowners, insureds, beneficiaries, annuitants, payees, and assignees of life insurance policies, health insurance policies, annuity contracts, and...
• 631.713 - Application Of Part.
  (1) This part shall apply to direct life insurance policies, health insurance policies, annuity contracts, and supplemental contracts with or without life contingencies issued by persons...
• 631.714 - Definitions.
  As used in this part, the term:(1) “Account” means any of the three accounts created in s. 631.715.(2) “Association” means the Florida Life and Health Insurance Guaranty...
• 631.715 - Florida Life And Health Insurance Guaranty Association.
  (1) There is created a nonprofit legal entity to be known as the Florida Life and Health Insurance Guaranty Association. All member insurers shall be and...
• 631.716 - Board Of Directors.
  (1) The board of directors of the association shall be comprised of not fewer than five nor more than nine member insurers, serving terms as established...
• 631.717 - Powers And Duties Of The Association.
  (1) If a domestic insurer is an impaired insurer, the association may, subject to the approval of the impaired insurer and the department:(a) Guarantee or reinsure, or...
• 631.718 - Assessments.
  (1) For the purpose of providing the funds necessary to carry out the powers and duties of the association, the board of directors shall assess the...
• 631.72 - Premium Or Income Tax Credits For Assessments Paid.
  (1) A member insurer may offset against either its premium tax liabilities imposed under s. 624.509 or its corporate income tax liabilities imposed under s. 220.11...
• 631.721 - Plan Of Operation.
  (1)(a) The association shall submit to the department a proposed plan of operation and any amendments thereto necessary or suitable to assure the fair, reasonable, and...
• 631.722 - Powers And Duties Of Department And Office.
  (1) The office shall:(a) Upon request of the board of directors, provide the association with a statement of the premiums in each of the appropriate states for...
• 631.723 - Prevention Of Insolvencies.
  To aid in the detection and prevention of insurer insolvencies or impairments:(1) The board of directors may, upon majority vote, make reports and recommendations to the...
• 631.724 - Records And Meetings Of Association.
  Records shall be kept of all negotiations and meetings in which the association or its representatives discuss the activities of the association in carrying out...
• 631.725 - Examination Of The Association; Annual Report.
  The association shall be subject to examination and regulation by the department. The board of directors shall submit to the department, not later than May...
• 631.726 - Tax Exemptions.
  The association shall be exempt from payment of all fees and all taxes levied by this state or any of its subdivisions, except taxes levied...
• 631.727 - Immunity.
  There shall be no liability on the part of, and no cause of action of any nature shall arise against, any member insurer or its...
• 631.728 - Extent Of Liability Of Association.
  For the purpose of carrying out its obligations under this part, the association shall be deemed to be a creditor of the impaired or insolvent...
• 631.729 - Liability Of Insureds For Unpaid Assessments.
  No provision of this part shall be construed to reduce the liability for unpaid assessments of the insureds of an impaired or insolvent insurer operating...
• 631.7295 - Reinsurance.
  With respect to covered policies for which the association becomes obligated after an entry of an order of liquidation or rehabilitation, the association may elect...
• 631.731 - Liquidation, Rehabilitation, Or Conservation Proceedings; Distributions.
  (1) Prior to the termination of any liquidation, rehabilitation, or conservation proceeding, the court may take into consideration the contributions of the respective parties, including the...
• 631.733 - Stay Of Proceedings.
  All proceedings in which the insolvent insurer is a party in any court in this state shall be stayed 60 days from the date an...
• 631.734 - Reopening Default Judgments.
  As to judgment under any decision, order, verdict, or finding based on default, the association may apply to have such judgment set aside by the...
• 631.735 - Prohibited Advertisement Of Florida Life And Health Insurance Guaranty Association Act In Sale Of Insurance.
  A person may not make, publish, disseminate, circulate, or place before the public, or cause directly or indirectly to be made, published, disseminated, circulated, or...
• 631.737 - Rescission And Review Generally.
  The association shall review claims and matters regarding covered policies based upon the record available to it on and after the date of liquidation. Notwithstanding...

Last modified: September 23, 2016