Retention Policy
…Data within the Data Mapper, The Data should be promptly deleted using these tools or by contacting GSI staff. Extenuating Circumstances If it is determined that the liquidator is unable…
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NCIGF Submits Comment on OK Business Restructuring Transaction
…the Arizona Insurance Department also filed comments in the matter. The transaction is representative of a trend in several states which have adopted statutes permitting division or transfer of blocks…
Recent Insolvency Activity Indicates Guaranty Funds Provide Extensive Coverage on Commercial Line Claims
…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…
Media Inquiries
For a basic overview of the insolvency process and guaranty fund laws, click here. For media inquiries about life and health guaranty funds please visit https://www.nolhga.com. For media inquiries about…
NCIGF Announces Policy Position on Restructuring at Austin NAIC meeting
…is restructured pursuant to statutes in several states. These statutes, which are described as either Insurance Business Transfer (IBT) or Division statutes, permit a company to divest itself of certain…
Backgrounder
…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…
NCIGF SUDS Retention Policy
Preamble The National Conference of Insurance Guaranty Funds (NCIGF) has entered into agreements with member state insurance guaranty associations and insurance receivers to assist in the transfer and distribution of…
Guaranty Funds Safeguard Consumers When Insurance Companies Fail
…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…
Missouri Executive Director Chuck Renn Recognized at August Board of Directors Meeting
…directors meeting in Indianapolis last week. Among the board was Charles Renn, Executive Director of the Missouri P&C Insurance Guaranty Association. Mr. Renn attended this meeting not only as the…