Overview
What is Indiana Insurance Guaranty Association?
The Indiana Insurance Guaranty Association is a nonprofit organization based in Indianapolis, Indiana. Its primary mission, as outlined in Indiana Code 27-6-8, is to safeguard policyholders of insolvent insurance companies. In the event of an insurance company's bankruptcy, the Association steps in to cover their policyholders' claims, ensuring financial security. This association operates under Part IX of its form, providing additional information regarding the policy claims paid.
Official website here: www.indiana.ncigf.org
Is Indiana Insurance Guaranty Association legitimate?
Indiana Insurance Guaranty Association is a legitimate nonprofit organization registered as a 501(c)(6) entity. Indiana 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.indiana.ncigf.org
What is the mission statement of Indiana Insurance Guaranty Association?
The Indiana Insurance Guaranty Association was established with a mission to offer specific protections to policyholders of insolvent insurance companies, in accordance with Indiana Code 27-6-8. This organization is designed to provide financial assistance, paying covered claims of policyholders whose insurance companies have gone bankrupt, as outlined in the aforementioned code. The association's activities are primarily focused on ensuring policyholders' claims are met, as detailed in Part IX of their policy claims paid information.
Official website here: www.indiana.ncigf.org
Who is the CEO of Indiana Insurance Guaranty Association?
Amanda Barbera is the Chair of Indiana Insurance Guaranty Association.
Official website here: www.indiana.ncigf.org
What is the revenue of Indiana Insurance Guaranty Association?
Indiana Insurance Guaranty Association's revenue in 2022 was $772,307.
Official website here: www.indiana.ncigf.org
Who are the executives of Indiana Insurance Guaranty Association and what are their salaries?
Here are 10 key members and their salaries:
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Official website here: www.indiana.ncigf.org
Where can I find the form 990 for Indiana Insurance Guaranty Association?
Indiana Insurance Guaranty Association's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.indiana.ncigf.org
Learn more at the official website: www.indiana.ncigf.org
Mission Statement of Indiana Insurance Guaranty Association
The Indiana Insurance Guaranty Association, established in accordance with Indiana Code 27-6-8, was formed with a mission to offer specific protections to policyholders of insolvent insurance companies. Its primary role involves providing coverage for claims of policyholders from bankrupt insurance companies, as outlined in the aforementioned code section. The organization's activities are regulated by Part IX of its policy claims paid information, further detailing its responsibilities in this area.
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Impact
October, 2024
The Indiana Insurance Guaranty Association plays a crucial role in safeguarding policyholders from the repercussions of insurance company insolvencies. When an insurance company becomes insolvent, the Association steps in to ensure that covered claims are paid to affected policyholders, thereby providing financial protection and stability during challenging times. This support is governed by Indiana Code 27-6-8, which outlines the specific provisions and limitations of the coverage offered. By fulfilling these obligations, the Association helps maintain public confidence in the insurance system, enabling policyholders to trust that their claims will be honored even in the event of a company’s failure. This impact ultimately contributes to a more stable insurance market in Indiana, protecting individuals and businesses alike from unexpected financial burdens.
This information is meant to be a general summary of Indiana 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: $81,242
- Program Service Revenue: $691,065
- Gross Receipts: $772,307
Assets and Liabilities:
- Total Assets: $8,349,714
- Total Liabilities: $0
- Net Assets: $8,349,714
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LIQUIDATION RECOVERIES
Revenue
$691,065
Organization Details
Founding Year
1971
Phone
(317) 636-8204Principal Officer
Amanda Barbera
Main Address
3502 WOODVIEW TRCE STE 100, INDIANAPOLIS, IN, 462683182
Website
www.indiana.ncigf.orgNTEE Category
Code: Y20 - Mutual benefit
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