... employees who purchase excess workers' compensation and employer liability policies. N.J.S.A. 34:15-111, states that the Fund was created to pay "valid claims ... the key facts in this matter. For the purposes of N.J.S.A. 34:15-111, the "Layton claim" was the workers' compensation claim by Layton ... of an insolvent carrier" as that phrase is used in N.J.S.A. 34:15-111 does not distinguish between primary, excess, stop-loss policies and ... recovery because of the insolvency of a workers' compensation carrier." N.J.S.A. 34:15-111 provides that the Fund shall pay only "valid claims for ...