Florida Statutes 627.573 – Replacement or termination of group life insurance; liability of prior insurer
Current as of: 2024 | Check for updates
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Terms Used In Florida Statutes 627.573
- Contract: A legal written agreement that becomes binding when signed.
- insurance: include the death benefits provided under a plan of self-insurance. See Florida Statutes 627.551
- Insurer: includes any person or governmental unit providing a plan of self-insurance. See Florida Statutes 627.551
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
When an insurance purchaser replaces or terminates an existing group life contract, the prior insurer remains liable only to the extent of its accrued liabilities and extensions of benefits as required by s. 627.575.