Overview
What is Washington Insurance Guaranty Association?
Washington Insurance Guaranty Association, based in Denver, Colorado, serves as a safety net for policyholders and claimants in the event of an insolvent property and casualty insurance company. In 2022, they reviewed over 100 claim files and had 97 claims pending at year's end. Through their efforts, over 600 checks were distributed to claimants and providers. Their mission, as outlined in the Washington Insurance Guaranty Association Act, is to pay covered claims efficiently in collaboration with regulators and receivers, while maintaining financial responsibility in managing association funds.
Official website here: www.waiga.org
Is Washington Insurance Guaranty Association legitimate?
Washington Insurance Guaranty Association is a legitimate nonprofit organization registered as a 501(c)(6) entity. Washington 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.waiga.org
What is the mission statement of Washington Insurance Guaranty Association?
The Washington Insurance Guaranty Association's mission is centered around efficiently handling and settling insurance claims of policyholders and claimants from insolvent property and casualty insurers. This is done in accordance with the Washington Insurance Guaranty Association Act, in collaboration with regulatory bodies and receivers. The association is also responsible for managing its funds diligently. In 2022, they reviewed over a hundred claim files and issued over 600 checks to claimants and providers, with 97 claims remaining unresolved at year's end.
Official website here: www.waiga.org
Who is the CEO of Washington Insurance Guaranty Association?
Chad Anderson is the Board Chair of Washington Insurance Guaranty Association.
Official website here: www.waiga.org
What is the revenue of Washington Insurance Guaranty Association?
Washington Insurance Guaranty Association's revenue in 2022 was $876,362.
Official website here: www.waiga.org
Who are the executives of Washington Insurance Guaranty Association and what are their salaries?
Here are 8 key members and their salaries:
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Official website here: www.waiga.org
Where can I find the form 990 for Washington Insurance Guaranty Association?
Washington Insurance Guaranty Association's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.waiga.org
Learn more at the official website: www.waiga.org
Mission Statement of Washington Insurance Guaranty Association
The Washington Insurance Guaranty Association, in its mission, aims to effectively settle the insurance claims of policyholders and beneficiaries from insolvent property and casualty insurance companies, adhering to the Washington Insurance Guaranty Association Act. The association works closely with regulators and receivers to accomplish this task, demonstrating a commitment to responsibility in managing the funds allocated to the organization. In 2022, the association reviewed over 100 claim files and issued over 600 checks to claimants and providers, reflecting its active role in fulfilling its obligations.
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Impact
October, 2024
The Washington Insurance Guaranty Association (WIGA) plays a crucial role in ensuring financial protection for policyholders and claimants affected by the insolvency of property and casualty insurers. By efficiently processing and paying covered claims, WIGA provides peace of mind to individuals and businesses during difficult times when their insurers are unable to meet their obligations.
In 2022, WIGA reviewed over 100 claim files, demonstrating its commitment to thorough and timely claims management. At the end of the year, there were 97 claims pending, indicating ongoing support for those seeking compensation for their losses. The association issued over 600 checks to claimants and healthcare providers, affirming its operational effectiveness and the tangible benefits it delivers to the community.
Furthermore, WIGA works closely with regulators and receivers to ensure that the claims process adheres to the legal framework established by the Washington Insurance Guaranty Association Act. This collaboration not only facilitates the prompt resolution of claims but also helps maintain the integrity of the insurance market, ultimately fostering stability and trust within the community.
This information is meant to be a general summary of Washington 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: $194,846
- Program Service Revenue: $681,516
- Gross Receipts: $876,362
Assets and Liabilities:
- Total Assets: $29,787,786
- Total Liabilities: $0
- Net Assets: $29,787,786
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Member Assessments
Revenue
$406,110
Claim Recoveries
Revenue
$275,406
Organization Details
Founding Year
1971
Phone
(303) 759-5066Principal Officer
Chad Anderson
Main Address
1873 So Bellaire St Ste 920, Denver, CO, 80222
Website
www.waiga.orgNTEE Category
Code: S40 - Community improvement
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