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Guaranty Association
Guaranty associations are organizations which guarantee insurance policies in the event of an insolvency event. History Guaranty associations were created to aid consumers in the event of an insurance company becoming insolvent during the claims process. Funding In general, guaranty associations are funded by a small portion of insurers' profits. Collectives and associations The National Organization of Life and Health Insurance Guaranty Associations coordinates multi-state guaranty efforts in the United States. Legislation The National Association of Insurance Commissioners has proposed the ''State Life and Health Insurance Guaranty Association Act''. Annuities Major insolvencies have occurred at least 62 times since the conspicuous collapse of the Executive Life Insurance Company in 1991. Annuity contracts are protected against insurance company insolvency up to a specific dollar limit, often $100,000, but as high as $500,000 in New York, New Jersey, and the state of Washi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insurance Policy
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language. Insurance contracts are designed to meet specific needs and thus have many features not found in many other types of contracts. Since insurance policies are standard forms, they feature boilerplate language which is similar across a wide variety of different types of insurance policies. Available through HeinOnline. The insurance policy is generally an integrated contract, meaning that it includes all forms associated with the agreement between the insured and insurer.Wollner KS. (1999). How to Draft and Interpret Insurance Policies. Casualty Risk Publishing LLC. In some cases, however, supplementary writings such as letters sent after ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Florida Health Maintenance Organization Consumer Assistance Plan
Florida is a state located in the Southeastern region of the United States. Florida is bordered to the west by the Gulf of Mexico, to the northwest by Alabama, to the north by Georgia, to the east by the Bahamas and Atlantic Ocean, and to the south by the Straits of Florida and Cuba; it is the only state that borders both the Gulf of Mexico and the Atlantic Ocean. Spanning , Florida ranks 22nd in area among the 50 states, and with a population of over 21 million, it is the third-most populous. The state capital is Tallahassee, and the most populous city is Jacksonville. The Miami metropolitan area, with a population of almost 6.2 million, is the most populous urban area in Florida and the ninth-most populous in the United States; other urban conurbations with over one million people are Tampa Bay, Orlando, and Jacksonville. Various Native American groups have inhabited Florida for at least 14,000 years. In 1513, Spanish explorer Juan Ponce de León became the first ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Texas Self-Insurance Group Guaranty Fund
Texas (, ; Spanish: ''Texas'', ''Tejas'') is a state in the South Central region of the United States. At 268,596 square miles (695,662 km2), and with more than 29.1 million residents in 2020, it is the second-largest U.S. state by both area (after Alaska) and population (after California). Texas shares borders with the states of Louisiana to the east, Arkansas to the northeast, Oklahoma to the north, New Mexico to the west, and the Mexican states of Chihuahua, Coahuila, Nuevo León, and Tamaulipas to the south and southwest; and has a coastline with the Gulf of Mexico to the southeast. Houston is the most populous city in Texas and the fourth-largest in the U.S., while San Antonio is the second most populous in the state and seventh-largest in the U.S. Dallas–Fort Worth and Greater Houston are, respectively, the fourth- and fifth-largest metropolitan statistical areas in the country. Other major cities include Austin, the second most populous state capital in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Texas Property And Casualty Insurance Guaranty Association
The Texas Property and Casualty Insurance Guaranty Association (TPCIGA) is the state-designated insurance guaranty association for property insurance and casualty insurance claims in Texas, United States. It is headquartered in North Burnet–Gateway, Austin. History The TPCIGA was formed by the 62nd Texas Legislature. Purpose and scope According to the Texas State Auditor's Office, the "Association's purpose is to pay, fairly and in a timely manner, valid insurance claims involving insolvent property and casualty insurance companies, according to Texas laws". TPCIGA's designation includes commercial property insurance, home insurance, liability insurance, renters' insurance, vehicle insurance, and workers' compensation Workers' compensation or workers' comp is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee's right to sue his or her emp .... ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Texas
Texas (, ; Spanish language, Spanish: ''Texas'', ''Tejas'') is a state in the South Central United States, South Central region of the United States. At 268,596 square miles (695,662 km2), and with more than 29.1 million residents in 2020, it is the second-largest U.S. state by both List of U.S. states and territories by area, area (after Alaska) and List of U.S. states and territories by population, population (after California). Texas shares borders with the states of Louisiana to the east, Arkansas to the northeast, Oklahoma to the north, New Mexico to the west, and the Mexico, Mexican States of Mexico, states of Chihuahua (state), Chihuahua, Coahuila, Nuevo León, and Tamaulipas to the south and southwest; and has a coastline with the Gulf of Mexico to the southeast. Houston is the List of cities in Texas by population, most populous city in Texas and the List of United States cities by population, fourth-largest in the U.S., while San Antonio is the second most pop ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michigan
Michigan () is a U.S. state, state in the Great Lakes region, Great Lakes region of the Upper Midwest, upper Midwestern United States. With a population of nearly 10.12 million and an area of nearly , Michigan is the List of U.S. states and territories by population, 10th-largest state by population, the List of U.S. states and territories by area, 11th-largest by area, and the largest by area east of the Mississippi River.''i.e.'', including water that is part of state territory. Georgia (U.S. state), Georgia is the largest state by land area alone east of the Mississippi and Michigan the second-largest. Its capital is Lansing, Michigan, Lansing, and its largest city is Detroit. Metro Detroit is among the nation's most populous and largest metropolitan economies. Its name derives from a gallicization, gallicized variant of the original Ojibwe language, Ojibwe word (), meaning "large water" or "large lake". Michigan consists of two peninsulas. The Lower Peninsula of Michigan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Florida Workers' Compensation Insurance Guaranty Association
Florida is a state located in the Southeastern region of the United States. Florida is bordered to the west by the Gulf of Mexico, to the northwest by Alabama, to the north by Georgia, to the east by the Bahamas and Atlantic Ocean, and to the south by the Straits of Florida and Cuba; it is the only state that borders both the Gulf of Mexico and the Atlantic Ocean. Spanning , Florida ranks 22nd in area among the 50 states, and with a population of over 21 million, it is the third-most populous. The state capital is Tallahassee, and the most populous city is Jacksonville. The Miami metropolitan area, with a population of almost 6.2 million, is the most populous urban area in Florida and the ninth-most populous in the United States; other urban conurbations with over one million people are Tampa Bay, Orlando, and Jacksonville. Various Native American groups have inhabited Florida for at least 14,000 years. In 1513, Spanish explorer Juan Ponce de León became the first known E ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Florida Insurance Guaranty Association
The chief financial officer of Florida is an elected statewide constitutional officer of Florida. The office was created in 2002 following the 1998 reforms of the Florida Cabinet. The CFO is a combination of the former offices of comptroller and treasurer/insurance commissioner/fire marshal. The office heads the Florida Department of Financial Services and is responsible for overseeing the state's finances, collecting revenue, paying state bills, auditing state agencies, regulating cemeteries and funerals, and handling fires and arsons. In addition, the CFO has administrative oversight over the offices which handles banking and insurance regulation. The CFO is a member of the Cabinet is third (behind the lieutenant governor and attorney general, respectively) in the line of succession to the office of Governor of Florida. History Tom Gallagher was the first state CFO and a former treasurer/insurance commissioner/fire marshal. Gallagher retired from the position in 2006 and Alex Si ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insolvency
In accounting, insolvency is the state of being unable to pay the debts, by a person or company (debtor), at maturity; those in a state of insolvency are said to be ''insolvent''. There are two forms: cash-flow insolvency and balance-sheet insolvency. Cash-flow insolvency is when a person or company has enough assets to pay what is owed, but does not have the appropriate form of payment. For example, a person may own a large house and a valuable car, but not have enough liquid assets to pay a debt when it falls due. Cash-flow insolvency can usually be resolved by negotiation. For example, the bill collector may wait until the car is sold and the debtor agrees to pay a penalty. Balance-sheet insolvency is when a person or company does not have enough assets to pay all of their debts. The person or company might enter bankruptcy, but not necessarily. Once a loss is accepted by all parties, negotiation is often able to resolve the situation without bankruptcy. A company th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
