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23-90-117. Right of recovery.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-90-117. Right of recovery.
(a)(1) Any person having a claim against an insurer under any provision in an insurance policy other than a policy of an insolvent insurer, which is also a covered claim, shall be required to exhaust first his or her right under the policy.
(2) Any amount payable on a covered claim under this chapter shall be reduced by the amount of any recovery under the insurance policy.
(b)(1) Any person having a claim or legal right of recovery under any governmental insurance or guaranty program which is also a covered claim shall be required to exhaust first his or her right under the program. Any amount payable on a covered claim under this chapter shall be reduced by the amount of any recovery under the program.
(2) Any person having a claim which may be recovered under more than one (1) 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, he or she shall seek recovery first from the association of the location of the property. If it is a workers' compensation claim, he or she shall seek recovery first from the association of the residence of the claimant.
(3) Any recovery under this chapter shall be reduced by the amount of recovery from any other insurance guaranty association or its equivalent.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-90-117
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:23-90-117
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 24bbd0aad8051c9758bfb913218afaf0271eda441cffab3e671f3571cb3cb5d2
Source location: content.xml paragraph 55120
Stored source content
23-90-117. Right of recovery.
(a)(1) Any person having a claim against an insurer under any provision in an insurance policy other than a policy of an insolvent insurer, which is also a covered claim, shall be required to exhaust first his or her right under the policy.
(2) Any amount payable on a covered claim under this chapter shall be reduced by the amount of any recovery under the insurance policy.
(b)(1) Any person having a claim or legal right of recovery under any governmental insurance or guaranty program which is also a covered claim shall be required to exhaust first his or her right under the program. Any amount payable on a covered claim under this chapter shall be reduced by the amount of any recovery under the program.
(2) Any person having a claim which may be recovered under more than one (1) 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, he or she shall seek recovery first from the association of the location of the property. If it is a workers' compensation claim, he or she shall seek recovery first from the association of the residence of the claimant.
(3) Any recovery under this chapter shall be reduced by the amount of recovery from any other insurance guaranty association or its equivalent.
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