Florida Statute 631.001 - Full Text and Legal Analysis

The 2025 Florida Statutes

Title XXXVII
INSURANCE

Chapter 631
INSURER INSOLVENCY; GUARANTY OF PAYMENT

View Entire Chapter

F.S. 631.001

631.001 Title, construction, and purpose.—

(1) This part constitutes and may be cited as the “Insurers Rehabilitation and Liquidation Act.”

(2) This part shall be liberally construed to effect the purposes of this part.

(3) The purposes of this part, which are integral elements of the regulation of the business of insurance and are of vital public interest and concern, are to:

(a) Protect the interests of policyholders, creditors, and other claimants and the public.

(b) Provide a comprehensive scheme for administering insurer receiverships.

(d) Implement improved methods for rehabilitating insurers, which methods involve the cooperation and management expertise of the insurance industry.

(e) Enhance the efficiency and economy of the liquidation process by clarifying the law to minimize legal uncertainty and litigation.

(f) Establish a system to equitably apportion any unavoidable loss.

(g) Administer insurer receiverships more efficiently on an interstate and international basis by facilitating cooperation between states and by extending the scope of personal jurisdiction over debtors of the insurer outside this state.

(h) Maximize recovery of assets for the benefit of the insurer’s estate; policyholders, creditors, and other claimants; and the public.

History.—s. 737, ch. 59-205; s. 1, ch. 70-27; s. 1, ch. 70-439; s. 809(1st), ch. 82-243; s. 1, ch. 83-38; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429; s. 3, ch. 2002-25.

Note.—Consolidation of s. 631.001 and former s. 631.211.

F.S. 631.001 on Google Scholar

F.S. 631.001 on CourtListener

Amendments to 631.001

Annotations, Discussions, Cases:

Cases Citing Statute 631.001

Total Results: 8

Am. Bonding Co. v. Coastal Metal Sales

679 So. 2d 1250, 1996 Fla. App. LEXIS 9462, 1996 WL 517155

District Court of Appeal of Florida | Filed: Sep 13, 1996 | Docket: 1665821

Cited 7 times | Published

Arizona have enacted versions of the UILA. See § 631.001.399, Fla.Stat. (1993); Ariz.Rev.Stat. Ann. §§

FLORIDA INS. GUARANTY ASSOC., INC. v. State Ex Rel. Department of Insurance

400 So. 2d 813

District Court of Appeal of Florida | Filed: Jun 30, 1981 | Docket: 1677030

Cited 5 times | Published

legislative intent of IRLA. The "purpose" clause, Section 631.001(4), declares that the purpose of the act is

FINANCIAL INTERN. LIFE INS. CO. OF NEW MEXICO v. Beta Trust Corp., Ltd.

405 So. 2d 306

District Court of Appeal of Florida | Filed: Nov 4, 1981 | Docket: 1703740

Cited 4 times | Published

Act, adopted in both Florida and New Mexico, Section 631.001 et seq., Florida Statutes, and Article 59-6-7

Sunset Com. Bk. v. Fla. Dept. of Ins.

509 So. 2d 366, 12 Fla. L. Weekly 1494

District Court of Appeal of Florida | Filed: Jun 17, 1987 | Docket: 1361758

Cited 3 times | Published

unavoidable loss due to insurer insolvency. See section 631.001(4)(d), Florida Statutes. Creditor's rights

Sabato v. Florida Department of Insurance

768 F. Supp. 1562, 1991 U.S. Dist. LEXIS 10844, 1991 WL 152818

District Court, S.D. Florida | Filed: Jun 28, 1991 | Docket: 2265947

Cited 1 times | Published

legal uncertainty and litigation." Fla.Stat. § 631.001(4) (1989). The Act "shall be so interpreted and

Lidsky v. Florida Department of Insurance

643 So. 2d 631, 1994 Fla. App. LEXIS 8785, 1994 WL 496879

District Court of Appeal of Florida | Filed: Sep 14, 1994 | Docket: 64751418

Published

insureds, creditors, and the public generally_” See § 631.001(4). To achieve this purpose, the legislative scheme

Hartnett v. Southern American Fire Insurance Co.

495 So. 2d 902, 11 Fla. L. Weekly 2149, 1986 Fla. App. LEXIS 10131

District Court of Appeal of Florida | Filed: Oct 14, 1986 | Docket: 64622238

Published

appear at the hearing. Section 631.181(4). Section 631.001(4) provides that the purpose of the act “is

Hartnett v. SOUTHERN A. FIRE INS. CO.

495 So. 2d 902, 11 Fla. L. Weekly 2149

District Court of Appeal of Florida | Filed: Oct 14, 1986 | Docket: 1727912

Published

appear at the hearing. Section 631.181(4). Section 631.001(4) provides that the purpose of the act "is