Florida Statute 631.902 - Full Text and Legal Analysis

The 2025 Florida Statutes

Title XXXVII
INSURANCE

Chapter 631
INSURER INSOLVENCY; GUARANTY OF PAYMENT

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F.S. 631.902

631.902 Purposes.—The purposes of this part are to:

(1) Create a not-for-profit Florida Workers’ Compensation Insurance Guaranty Association, Incorporated, to provide a mechanism for the payment of covered claims under chapter 440 to avoid excessive delay in payment and to avoid financial loss to claimants because of the insolvency of a member insurer.

(2) Assist in the detection and prevention of insurer insolvencies.

(3) Allocate the cost of such protection among the insurers.

(4) Provide for the prompt payment by the corporation of workers’ compensation claims incurred by insolvent insurers.

History.—s. 20, ch. 97-262.

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Amendments to 631.902

Annotations, Discussions, Cases:

Cases Citing Statute 631.902

Total Results: 1

Elite Protection Services, Inc. v. Florida Workers' Compensation Insurance Guaranty Ass'n

874 So. 2d 615, 2004 Fla. App. LEXIS 3764

District Court of Appeal of Florida | Filed: Mar 24, 2004 | Docket: 64830915

Published

thereafter declared insolvent. Pursuant to section 631.902, Florida Statutes (1997), FWCIGA assumed covered