Several pieces of state legislation have been enacted or proposed this year in regards to guaranty funds, reports the NCIGF.
Vermont is trying to clarify what happens to non-admitted closed blocks of commercial policies and reinsurance agreements since guaranty funds don't usually cover reinsurance and surplus claims, says the NCIGF.
and our member guaranty funds seek nothing less than the opportunity to provide an even higher level of service and protection to property/casualty insurance consumers.
We all know NCIGF is not a lobbying organization," he said.
In addition to the NCIGF board and three state guaranty fund boards, LaSalle is involved with a number of industry organizations, including the Colorado Defense Lawyers Association, and the Colorado Democratic Leadership Council.
The NCIGF would have clearly defined duties and responsibilities.
The NCIGF would also be a part of the extremely important postmortem process, allowing all parties to learn how to lessen the impact of future insolvencies or prevent them entirely.
Roger Schmelzer, NCIGF
president and chief executive, said there is a more concerted effort among state regulators to connect with one another's receivership issues.
The sample comprises 82 property-liability insurers that failed from 1984 through 1990 for which the data were obtainable from Best's Insurance Reports and the NCIGF Special Report.
National Conference of Insurance Guaranty Funds, 1991, NCIGF Special Report (Indianapolis: NCIGF).
July 21-22 National Conference of Insurance Guaranty Funds: NCIGF
Legal Seminar, Marriott Marquis, New York.
National Conference of Insurance Guaranty Funds: NCIGF
Annual Meeting, Fairmont Copley Place, Boston.