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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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

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Cases Citing Statute 631.902

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Elite Prot. Servs., Inc. v. Florida Workers' Comp. Ins. Guar. Ass'n, 874 So. 2d 615 (Fla. 4th DCA 2004).

Published | Florida 4th District Court of Appeal | 2004 Fla. App. LEXIS 3764

...ABC paid Appellants Paul Bent and William Smith full workers’ compensation benefits, including medical care and lost wages payments for injuries sustained during the course of their employment with Elite. ABC was thereafter declared insolvent. Pursuant to section 631.902, Florida Statutes (1997), FWCIGA assumed covered claims for the workers’ compensation obligations of ABC, but refused to defend or indemnify the policy holder Elite in a personal injury action filed against Elite by Bent and Smith....

...The trial court was eminently correct in deciding that FWCIGA’s duty is limited to assuming the workers’ compensation obligations of insolvent insurance carriers even in a situation such as this one where the contract for insurance also includes *617 coverage for tort claims. Section 631.902, Florida Statutes, provides that the purposes of FWCIGA are to “provide a mechanism for the payment of covered claims under Chapter 440 ......

This Florida statute resource is curated by Graham W. Syfert, Esq., a Jacksonville, Florida personal injury and workers' compensation attorney. For legal consultation, call 904-383-7448.