…mechanisms. III. Further Inquiries Invited. The information contained in this response is necessarily concise and summary in form. Representatives of NCIGF and NOLHGA would be happy to respond – in…
…Association http://www.doi.idaho.gov/ Illinois Illinois Insurance Guaranty Fund http://www.idfpr.com/ Indiana Indiana Insurance Guaranty Association http://www.in.gov/idoi/ Iowa Iowa Insurance Guaranty Association http://www.iid.state.ia.us/ Kansas Kansas Insurance Guaranty Association http://www.ksinsurance.org/ Kentucky Kentucky Insurance Guaranty…
…why isn’t it in bankruptcy? A: Insurance is a state regulated industry and many federal statutes, including bankruptcy laws, do not apply to them. When an insurance company becomes insolvent,…
…suspend its business, finds the company insolvent and orders it to liquidate its assets, it is called liquidation. At liquidation, the court cancels all policies of the insolvent company. The…
…respective payouts. (While only 10 insolvencies in total are listed here, a number of these insolvencies actually involved groups of affiliated insurers. The 10 items listed here actually involved the…
…resort” option is liquidation. If a company is unable to pay its debts or has insufficient assets, the courts and the state insurance commissioner conduct a thorough investigation of its…
…time it may communicate views, ideas and experiences to interested parties. IFIGS is a voluntary not for profit membership network. It is independent of any government authority. Currently there are…
…policyholders faced with insolvencies of insurance companies with a broad and reliable safety net. In that time, however, many changes have transformed the insurance industry. After taking extensive input in…
…doing business in its state is insolvent, it works with the insurer’s receiver as the receiver marshals the insurer’s data and converts it for use with a data system universally…
…net works. Recognition of the value the insurance industry derives from a statutory insurance resolution system is especially worthwhile when activity is subdued. Oddly, it’s the participants in the resolution…