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Insurance Regulation & Insolvency Articles Archive
Understanding the Safety Net Provided by Property and Casualty Insurance Guaranty Associations
By
Alan N. Gamse
(Published in The Brief, Volume 40, Number 1, Fall 2010. © 2010 by the American Bar Association.)
View Article
When insurers in the United States become insolvent, they are
not eligible to utilize the Federal bankruptcy system. Instead, they are
liquidated pursuant to state insurer insolvency laws and under the authority of
the state judiciary system. Policyholders of, and claimants against, such
insurers may be protected from loss by property and casualty insurance guaranty
associations established under state law. This article explains how the
insurance guaranty association works and how its protections are accessed.
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