Overview
What is New Hampshire Insurance Guaranty Association?
The New Hampshire Insurance Guaranty Association is a nonprofit organization situated in Boston, Massachusetts. Its primary mission is to ensure the protection of policyholders and claimants in the event of an insolvent insurance company, as stated in the New Hampshire state statutes, Chapter 404B and Chapter 404H. Throughout the year, the association carries out this responsibility, providing the necessary safeguards and support to policyholders and claimants in compliance with the New Hampshire state regulations.
Official website here: www.gfms.org
Is New Hampshire Insurance Guaranty Association legitimate?
New Hampshire Insurance Guaranty Association is a legitimate nonprofit organization registered as a 501(c)(6) entity. New Hampshire Insurance Guaranty Association submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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Official website here: www.gfms.org
What is the mission statement of New Hampshire Insurance Guaranty Association?
The New Hampshire Insurance Guaranty Association's mission is to safeguard the interests of policyholders and claimants affected by insolvent insurers, adhering to the guidelines set forth in the state statutes, specifically Chapter 404B and Chapter 404H. In accordance with this mission, the association offers protection to policyholders and claimants in the event of an insurer's financial collapse. This protection is provided in accordance with the regulations established by the New Hampshire state legislature. The association's activities are centered around ensuring financial security for policyholders and claimants in such challenging circumstances.
Official website here: www.gfms.org
Who is the CEO of New Hampshire Insurance Guaranty Association?
Barbara Petersen Law is the Principal Officer of New Hampshire Insurance Guaranty Association.
Official website here: www.gfms.org
What is the revenue of New Hampshire Insurance Guaranty Association?
New Hampshire Insurance Guaranty Association's revenue in 2022 was $85,808.
Official website here: www.gfms.org
Who are the executives of New Hampshire Insurance Guaranty Association and what are their salaries?
Here are 9 key members and their salaries:
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Official website here: www.gfms.org
Where can I find the form 990 for New Hampshire Insurance Guaranty Association?
New Hampshire Insurance Guaranty Association's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.gfms.org
Learn more at the official website: www.gfms.org
Mission Statement of New Hampshire Insurance Guaranty Association
The New Hampshire Insurance Guaranty Association, in line with its mission, works diligently to safeguard the interests of policyholders and claimants impacted by insolvent insurance companies. This is accomplished in adherence to the state statutes, specifically Chapter 404B and Chapter 404H. The Association's primary role is to ensure that policyholders and claimants continue to receive coverage and benefits, even when their original insurers face financial instability. By providing this protection, the New Hampshire Insurance Guaranty Association upholds its commitment to maintaining stability in the insurance market and safeguarding the financial well-being of its constituents.
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Impact
October, 2024
The New Hampshire Insurance Guaranty Association plays a crucial role in safeguarding policyholders and claimants affected by the insolvency of insurers. Operating under state statutes Chapter 404B and Chapter 404H, the Association ensures that individuals and businesses do not suffer financial loss due to the failure of their insurance providers. By providing protection to these policyholders, the Association contributes to maintaining trust in the insurance system and promotes stability within the insurance market. This safety net is essential for individuals who may face significant challenges during such financial upheavals, thereby reinforcing the overall health of the insurance landscape in New Hampshire.
This information is meant to be a general summary of New Hampshire Insurance Guaranty Association. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $22,037
- Program Service Revenue: $63,771
- Gross Receipts: $29,432,628
Assets and Liabilities:
- Total Assets: $54,511,541
- Total Liabilities: $0
- Net Assets: $54,511,541
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Recovery
Revenue
$62,304
Member Assessment Administrative
Revenue
$1,467
Organization Details
Founding Year
1970
Phone
(617) 227-7020Principal Officer
Barbara Petersen Law
Main Address
One Bowdoin Square Second Floor, Boston, MA, 021142916
Website
www.gfms.orgNTEE Category
Code: Y20 - Mutual benefit
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