§ 27-34-12 - Nonduplication of recovery.
SECTION 27-34-12
§ 27-34-12 Nonduplication of recovery.– (a) Any person having a claim against an insurer under any provision in aninsurance policy other than a policy of an insolvent insurer which is also acovered claim, shall be required to exhaust first his or her right under thatpolicy. Any amount payable on a covered claim under this chapter shall bereduced by the amount of any recovery under the insurance policy.
(b) Any person having a claim or legal right of recoveryunder any governmental insurance or guaranty program which is also a coveredclaim, shall be required to exhaust first his or her right under that program.Any amount payable on a covered claim under this chapter shall be reduced bythe amount of any recovery under the program.
(c) Any person having a claim which may be recovered frommore than one insurers' insolvency fund or its equivalent shall seek recoveryfirst from the fund or its equivalent of the place of residence of the insured,except that if it is a first party claim for damage to property with apermanent location he or she shall seek recovery first from the fund or itsequivalent in the state of the location of the property, and, if it is aworkers' compensation claim, he or she shall seek recovery first from the fundor its equivalent of the state of the residence of the claimant. Any recoveryunder this chapter shall be reduced by the amount of recovery from any otherinsurance insolvency fund or its equivalent.