Overview
What is Connecticut Insurance Guaranty Association?
The Connecticut Insurance Guaranty Association is a nonprofit organization situated in Boston, Massachusetts, specifically at One Bowdoin Square 2nd Fl. Its primary mission is to safeguard the interests of policyholders and claimants impacted by insolvent insurers, in adherence to the Connecticut state statute, Chapter 704a, Section 38a-842 of the Connecticut Insurance Laws. By doing so, the Association ensures financial stability and security for policyholders, providing them with the necessary protection during times of insurer insolvency.
Official website here: www.gfms.org
Is Connecticut Insurance Guaranty Association legitimate?
Connecticut Insurance Guaranty Association is a legitimate nonprofit organization registered as a 501(c)(6) entity. Connecticut 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.gfms.org
What is the mission statement of Connecticut Insurance Guaranty Association?
The Connecticut Insurance Guaranty Association, as per its mission, is committed to safeguarding policyholders and claimants of financially struggling insurers. This is accomplished in adherence to the provisions outlined in Chapter 704a, Section 38a-842 of the Connecticut Insurance Laws. The Association's primary role is to provide protection to policyholders and claimants in such circumstances, ensuring they continue to receive coverage and benefits as stipulated by the state legislation.
Official website here: www.gfms.org
Who is the CEO of Connecticut Insurance Guaranty Association?
Barbara Petersen Law is the Principal Officer of Connecticut Insurance Guaranty Association.
Official website here: www.gfms.org
What is the revenue of Connecticut Insurance Guaranty Association?
Connecticut Insurance Guaranty Association's revenue in 2022 was $10,278,713.
Official website here: www.gfms.org
Who are the executives of Connecticut Insurance Guaranty Association and what are their salaries?
Here are 7 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.gfms.org
Where can I find the form 990 for Connecticut Insurance Guaranty Association?
Connecticut 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 Connecticut Insurance Guaranty Association
Connecticut Insurance Guaranty Association, as a vital organization, is dedicated to safeguarding the interests of policyholders and claimants who have been impacted by insolvent insurance companies. In adherence to the Connecticut state statute, Chapter 704a, Section 38a-842 of the Connecticut Insurance Laws, this association ensures that the necessary protection is provided. The mission of the Connecticut Insurance Guaranty Association is to uphold and execute this statutory obligation, thereby shielding policyholders and claimants from financial hardship resulting from the failure of their insurers.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
The Connecticut Insurance Guaranty Association plays a crucial role in safeguarding policyholders and claimants when insurers face insolvency. By adhering to state statutes, specifically Chapter 704a, Section 38a-842 of the Connecticut Insurance Laws, the Association ensures that individuals and businesses are protected from the financial fallout of bankrupt insurance companies. This support is vital for maintaining the stability and reliability of the insurance market, fostering trust among policyholders who can feel secure knowing they have a safety net in such unfortunate circumstances. The Association's efforts contribute to community improvement by upholding the financial integrity of insurance offerings and protecting the interests of consumers.
This information is meant to be a general summary of Connecticut 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: $12,410
- Program Service Revenue: $10,266,303
- Gross Receipts: $71,228,977
Assets and Liabilities:
- Total Assets: $105,096,125
- Total Liabilities: $0
- Net Assets: $105,096,125
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Member Assessment
Revenue
$8,202,248
Recovery
Revenue
$2,031,374
Member Assessment Administrative
Revenue
$32,681
Organization Details
Founding Year
1971
Phone
(617) 277-7020Principal Officer
Barbara Petersen Law
Main Address
One Bowdoin Square 2nd Fl, Boston, MA, 02114
Website
www.gfms.orgNTEE Category
Code: S40 - Community improvement
If you are a representative of Connecticut Insurance Guaranty Association and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.