Frequently Asked Questions
…are required to become members of the guaranty fund as a “condition of authority” to transact insurance business. Guaranty funds generally operate under the authority of the state’s insurance code,…
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On the Horizon: Treasury Department Offers Blueprint for Modernization of Financial Regulation
…state would be required to be members of the state’s property and casualty insurance guaranty association, just as they are today. In this way, the assessment base and capacity for…
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Guaranty Fund Laws and Law Summaries
…Summary 2/1/2024 NEW JERSEY Complete Statute Summary 2/1/2024 NEW JERSEY WC Complete Statute Summary 2/1/2024 NEW MEXICO Complete Statute Summary 2/1/2024 NEW YORK Complete Statute Summary 2/1/2024 NEW YORK WC…
NCIGF Announces Policy Position on Restructuring at Austin NAIC meeting
…blocks of business. The transferring company has no liability should the assuming entity be ordered into liquidation. Further, the statutes permit various lines of business to be transferred including workers…
Louisiana Now Twelfth State to Amend Large Deductible Liquidation Act
…of the new law available https://www.ncigf.org/industry/public-policy-and-legislation/.) The other states that have adopted similar statutory changes are California, Pennsylvania, Illinois, Indiana, Michigan, Texas, New Jersey, Utah, Florida, Missouri, and West Virginia….
Michigan Announces New Executive Director
…of Governors, appointed by the Director of the Department of Insurance and Financial Services (“DIFS”), oversees MPCGA. Additional information is available at http://www.mpcga.com/. Contact: Michigan Property and Casualty Guaranty Association…
NCIGF Submits Comment on OK Business Restructuring Transaction
…for this case may be accessed at https://www.oscn.net/dockets/GetCaseInformation.aspx?db=oklahoma&number=CJ-2019-6689. NCIGF, NOLHGA and Arizona comments may be viewed at this link. NCIGF is represented in this matter by Derryberry and Naifeh, LLP….