40-2910. Same; claims; exhaustion of rights under policy; recovery reductions.
40-2910
40-2910. Same; claims; exhaustion of rights underpolicy; recoveryreductions.(a) Any person having a claim against an insurer under any provision inan insurance policy other than a policy of an insolvent insurer which isalso a covered claim shall be required to exhaust first his right undersuch policy.A claim under an insurance policy shall include a claim under any kind ofinsurance, whether such claim is a first party or third party claim, and shallinclude, without limitation, accident and health insurance, workers'compensation, Blue Cross and Blue Shield and all other coverages except forpolicies of an insolvent insurer.Any amount payable on a covered claim under this act shall bereduced by the amount of any recovery under such other insurance policy.
(b) Any person having a claim which may be recovered under more than oneinsurance guaranty association or its equivalent shall seek recovery firstfrom the association of the place of residence of the insured except thatif it is a first party claim for damage to property with a permanentlocation, from the association of the location of the property, and if itis a workmen's compensation claim, from the association of the residence ofthe claimant. Any recovery under this act shall be reduced by the amount ofthe recovery from any other insurance guaranty association or itsequivalent.
(c) The provisions of this section, as amended, shall apply to all claimswhich have not been paid prior to the effective date of this act.
History: L. 1970, ch. 185, § 10;L. 2005, ch. 92, § 4; Apr. 14.