Sentences with phrase «insurance guaranty fund»

Arizona Life & Health Insurance Guaranty Fund - State guaranty associations are there to provide protection and continuing coverage, even in the event that a insurance company becomes insolvent.

Every state has an insurance guaranty fund that will pay some claims if the insurance company goes bust.

These include: The Virginia Department of Insurance, Virginia Life and Health Insurance Guaranty Fund, and Virginia Life Insurance Company Ratings.

The insurers are surplus lines carriers and are not backed by any state insurance guaranty fund if they become insolvent.

Each state has it's own «insurance guaranty fund», which would help you recover your insurance pay out if an insurance company became insolvent.

As budget negotiations move into high gear, and calls for the creation of an insurance Guaranty Fund take to the airwaves, the state Conference of Blue Cross and Blue Shield Plans is counter-punching, saying the creation of a fund is yet another hidden tax on health insurance.

Also, licensed lifeinsurance companies contribute to life insurance guaranty funds.

Additionally, all states have «insurance guaranty funds» that are intended to make partially whole insureds and beneficiaries of insurance companies that are unable to honor claims.

Some life insurance guaranty funds pay out $ 100,000 - $ 500,000 per policy depending on the state, and theamount of life insurance you have.

Not exact matches

Guaranty fund assessment expense of approximately $ 54 million pretax, or $ 0.24 per diluted common share, to support the policyholder obligations of Penn Treaty (an unaffiliated long - term care insurance company).

Guaranty fund assessment expense of approximately $ 54 million pretax, or $ 0.23 per diluted common share, to support the policyholder obligations of Penn Treaty (an unaffiliated long - term care insurance company); GAAP measures affected in this release include consolidated pretax income, EPS, and consolidated operating cost ratio.

I can't be totally certain here, but I suggest that all major state insurance regulators should send Ben Bernanke, Tim Geithner, and Hank Paulson some really nice gifts, because had AIG's life companies failed, the state guaranty funds would have been hard pressed to come up with something north of $ 10 billion by surcharging the other insurance companies doing business in each state.

If PRI lost enough business and became insolvent, any outstanding claims would be paid out of a state property and casualty guaranty fund that is funded by insurance companies — which in turn get the money from their ratepayers.

Insurers pay into a property and casualty guaranty fund that in essence operates as an insurance pool for insurance companies.

Estimating that hospitals alone are owed $ 165 million, the Greater New York Hospital Association is pushing for state lawmakers to create a so - called guaranty fund, financed through a tax on health insurance, which would reimburse providers for attributable to the Health Republic collapse and to any future insurance company failure.25

Every New Yorker who pays for home, auto or business insurance would foot the bill: In the event of PRI's demise, its unpaid claims would be paid by the state's insurance company guaranty fund, with the cost ultimately passed on to policyholders statewide.

There are certainly horror stories out there of people who ended up having to go to the state guaranty fund to get their claims paid after an insurance company was declared insolvent.

MYGAs are backed primarily by the issuing insurance company, and additionally by State Guaranty Funds

Fixed annuities offered by legal reserve life insurance companies like Liberty Bankers are further protected by various state insurance department guaranty funds.

When it comes to the US, specialty insurance companies are non-admitted, which means they don't participate in the state guaranty fund and have overall less regulations.

I can't be totally certain here, but I suggest that all major state insurance regulators should send Ben Bernanke, Tim Geithner, and Hank Paulson some really nice gifts, because had AIG's life companies failed, the state guaranty funds would have been hard pressed to come up with something north of $ 10 billion by surcharging the other insurance companies doing business in each state.

Their operation life insurance companies are likely healthy, but if not, the State Guaranty funds are around to protect things.

Some experts say the changes are unlikely to spread to single - employer plans because those plans are better funded and carry higher federal insurance protection through the Pension Benefit Guaranty Corp..

The second principal feature of a stable value fund is a «wrap contract» issued by an insurance company or other financial institution that provides a guaranty that investors will receive the «book value» of their account, the value of their initial investments plus interest accrued at certain intervals of time that reflects the performance of the underlying bond fund.

The state guaranty funds stand behind the insurance companies, and no one has failed to receive a death benefit on a timely basis as a result.

Dec. 12, 2005), in which the Massachusetts Supreme Judicial Court rules on «trigger, nondisclosure and the obligations of [state - sponsored] guaranty funds that back now - insolvent insurance companies.»

Fixed annuities offered by legal reserve life insurance companies like Liberty Bankers are further protected by various state insurance department guaranty funds.

Sure, there are state guaranty associations, but these state - run insurance funds only cover a fraction of your policy, up to $ 100,000, or in some cases up to $ 300,000.

Guaranty associations are typically funded by a portion of the collective insurers» profits, and membership in a guaranty association is mandatory for life insurance coGuaranty associations are typically funded by a portion of the collective insurers» profits, and membership in a guaranty association is mandatory for life insurance coguaranty association is mandatory for life insurance companies.

States have guaranty funds in order to protect citizens if their insurance company goes out of business, but they may not cover the full face value of the policy.

This necessarily means that the state's guaranty association receives funds from their insurance company members.

Life insurance companies contribute to the guaranty funds in each state where they offer life insurance.

Claims under this insurance may not be made against any state guaranty fund.

What the guaranty fund covers is if something did happen to your insurance company, and it became insolvent.

In addition to the top five least expensive carriers for our driver (Allianz, American Automobile, Fireman's Fund, MetLife, and Chubb), the three companies with the next best rates are Travelers, Bankers Insurance and Hawaiian Insurance & Guaranty - the one local carrier on this list.

Either the insurance company or the guaranty fund will begin to instruct what the next steps will be, as you don't want to stop making payments on the policy.

Most states split up the types of insurance into two guaranty funds, but again this will vary by state.

If your insurance company were to go insolvent, these similar state funds (which are referred to as guaranty funds) will help pay your claim up to certain amounts, depending on your state.

There are certainly horror stories out there of people who ended up having to go to the state guaranty fund to get their claims paid after an insurance company was declared insolvent.