44-2410. Assignment of rights; notice of claims; settlement; effect; statement of claims; file with director.
176 words·~1 min read·
/ne/chapter-44/44-2410A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)Any person recovering under the Nebraska Property and Liability Insurance Guaranty Association Act shall be deemed to have assigned his or her rights under the policy to the association to the extent of such recovery from the association. Every insured or claimant seeking recovery under the act shall be required to cooperate with the association to the same extent he or she would have been required to cooperate with the insolvent insurer.
(2)Notice of claims to the liquidator or receiver of the insolvent member insurer shall be deemed notice to the association or its agent, and a list of covered claims shall be periodically submitted to the association or similar organization in another state by the receiver or liquidator.
(3)The receiver, liquidator, or statutory successor of an insolvent member insurer shall be bound by settlements of covered claims by the association or a similar organization in another state.
(4)The association shall periodically file with the director statements of covered claims paid by the association and estimates of anticipated claims against the association.