Sec. 462.201. COVERED CLAIMS IN GENERAL. A claim is a covered claim if: (1) the claim is an unpaid claim; (2) the claim is made under an insurance policy to which this chapter applies that is: (A) issued by an insurer authorized to engage in business in this state; or (B) assumed by an insurer authorized to engage in business in this state that issues an assumption certificate to the insured; (3) the claim arises out of the policy and is within the coverage and applicable limits of the policy; (4) the insurer that issued the policy or assumed the policy under an assumption certificate issued to the insured is an impaired insurer; and (5) the claim: (A) is made by a liability claimant or insured who is a resident of this state at the time of the insured event; or (B) is a first-party claim for damage to property that is permanently located in this state.
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