Ala. Code § 27-42-2

Purpose of Chapter

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Section 27-42-2

Purpose of Chapter.

The purpose of this chapter is to provide a mechanism for the payment of covered claims under certain insurance policies, to avoid excessive delay in payments and to avoid financial loss to claimants or policyholders because of the insolvency of an insurer, to assist in the detection and prevention of insurer insolvencies and to provide an association to assess the cost of such protection among insurers.

(Acts 1980, No. 80-806, p. 1639, §2.)

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Notes of Decisions

Cited in 7 cases, 1989–2013 · leading case: Alabama Insurance Guaranty Ass'n v. Association of General Contractors Self-Insurer's Fund

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Alabama Insurance Guaranty Ass'n v. Association of General Contractors Self-Insurer's Fund (2010) ala · cites it 8× “" Ala.Code 1975, § 27-42-2. As it existed at the time the claim arose in the present case, the Guaranty Act defined a "covered claim" as "[a]n unpaid claim, including one of unearned premiums, which arises out of, and is within the coverage and not in excess of, the applicable…”

Alabama Insurance Guaranty Ass'n v. Mercy Medical Ass'n (2013) ala · cites it 4× “” § 27-42-2, Ala.Code 1975. In October 2001, Reliance was declared insolvent and Keao’s workers’ compensation claim was forwarded to AIGA.”

Alabama Insurance Guaranty Ass'n v. Pierce (1989) ala · cites it 2× “The purpose of the Act is to provide a mechanism for payment for covered claims under certain insurance policies, § 27-42-2, and a “covered claim” is defined as follows: “An unpaid claim, including one of unearned premiums, which arises out of and is within the coverage and not…”

Commercial Union Insurance v. Sepco Corp. (1990) ca11 “This is clear in light of the Act’s purpose as expressed by Ala.Code § 27-42-2 (Rep.Vol.1986) (emphasis added): The purpose of this chapter is to provide a mechanism for the payment of covered claims under certain insurance policies, to avoid excessive delay in payments and to…”

Alabama Insurance Guaranty Ass'n v. Hollingsworth (1991) ala “” § 27-42-2. The Guaranty Association contends that it would be entitled to the setoff because of § 27-42-12(a), which states: “(a) 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…”

Gibson v. Alabama Insurance Guaranty Ass'n (1992) ala · cites it 2× “” § 27-42-2. In creating the AIGA, the Alabama legislature said that the Act “shall be liberally construed to effect the purpose under § 27-42-2 which will constitute an aid and guide to interpretation.”

Alabama Insurance Guaranty Ass'n v. Water Works & Sanitary Sewer Board of the City of Montgomery (2012) ala “” § 27-42-2, Ala.Code 1975. In July 2003, Legion was declared insolvent and, pursuant to the AIGA Act, Bat-son’s workers’ compensation claim was forwarded to AIGA.”

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