Overview
What is Wyoming Insurance Guaranty Association?
The Wyoming Insurance Guaranty Association is a nonprofit organization situated in Denver, Colorado. Its primary mission is to manage funds effectively and cooperate with regulators and receivers to settle covered claims for policyholders and claimants of insolvent property and casualty insurers, in adherence to Wyoming's guaranty act. In the year 2022, they examined one claim file and had one claim under review at year's end. Throughout the year, they issued over 60 financial aid checks to both claimants and providers. The association's work is dedicated to ensuring financial protection for policyholders in case of insolvency within the property and casualty insurance sector in Wyoming.
Official website here: www.wyiga.org
Is Wyoming Insurance Guaranty Association legitimate?
Wyoming Insurance Guaranty Association is a legitimate nonprofit organization registered as a 501(c)(6) entity. Wyoming 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.wyiga.org
What is the mission statement of Wyoming Insurance Guaranty Association?
The Wyoming Insurance Guaranty Association's mission is to efficiently settle insurance claims of policyholders and claimants of insolvent property and casualty insurers, in accordance with Wyoming's guaranty act. This is done in collaboration with regulators and receivers, while ensuring the responsible management of the association's funds. Their primary goal is to provide financial assistance when insurers are unable to meet their obligations, thereby protecting policyholders' interests. The association reviewed one claim file in 2022 and had one claim pending at year's end, while issuing over 60 checks to claimants and providers during the year.
Official website here: www.wyiga.org
Who is the CEO of Wyoming Insurance Guaranty Association?
Chad Anderson is the Board Chair of Wyoming Insurance Guaranty Association.
Official website here: www.wyiga.org
What is the revenue of Wyoming Insurance Guaranty Association?
Wyoming Insurance Guaranty Association's revenue in 2022 was $9,280.
Official website here: www.wyiga.org
Who are the executives of Wyoming Insurance Guaranty Association and what are their salaries?
Here are 7 key members and their salaries:
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Official website here: www.wyiga.org
Where can I find the form 990 for Wyoming Insurance Guaranty Association?
Wyoming Insurance Guaranty Association's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.wyiga.org
Learn more at the official website: www.wyiga.org
Mission Statement of Wyoming Insurance Guaranty Association
The Wyoming Insurance Guaranty Association, a vital entity, is dedicated to fulfilling its mission effectively. Its primary goal is to settle covered claims of policyholders and claimants of bankrupt property and casualty insurers, adhering to Wyoming's guaranty act. This organization collaborates closely with regulators and receivers to ensure a smooth and efficient process. Moreover, the Wyoming Insurance Guaranty Association is responsible for managing its funds with utmost diligence. In 2022, the association reviewed one claim file and had one claim pending at year's end. Throughout the year, over sixty checks were issued to claimants and providers, demonstrating its commitment to fulfilling its obligations.
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Impact
October, 2024
The Wyoming Insurance Guaranty Association plays a crucial role in protecting policyholders and claimants in the event that property and casualty insurers become insolvent. By efficiently processing and paying covered claims, the Association ensures that individuals and businesses can recover from the financial impact of an insurer's failure.
In 2022, the Association demonstrated its effectiveness by reviewing one claim file and managing one pending claim at the year's end. During the same period, it issued over 60 checks to claimants and providers, showcasing its commitment to resolving claims promptly and responsibly. The Association operates in alignment with Wyoming's guaranty act, collaborating with regulators and receivers to maintain public trust and financial stability within the insurance market. Overall, its efforts provide a safety net for those affected by insurer insolvency, contributing to the health and reliability of the insurance system in Wyoming.
This information is meant to be a general summary of Wyoming 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: $9,280
- Gross Receipts: $9,280
Assets and Liabilities:
- Total Assets: $1,591,266
- Total Liabilities: $0
- Net Assets: $1,591,266
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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.wyiga.orgNTEE Category
Code: Y20 - Mutual benefit
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