Overview
What is Vermont Property And Casualty Insurance Guaranty Association?
The Vermont Property and Casualty Insurance Guaranty Association is a nonprofit organization situated in Boston, Massachusetts. Its primary mission is to safeguard policyholders and claimants of insolvent insurers, as outlined in the Vermont state statute, Section 3611 of the Act. The Association carries out this responsibility by offering protection in line with the regulations set forth by the state statute, ensuring financial security for those impacted by the failure of insurance companies within Vermont.
Official website here: www.gfms.org
Is Vermont Property And Casualty Insurance Guaranty Association legitimate?
Vermont Property And Casualty Insurance Guaranty Association is a legitimate nonprofit organization registered as a 501(c)(6) entity. Vermont Property And Casualty 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 Vermont Property And Casualty Insurance Guaranty Association?
The Vermont Property and Casualty Insurance Guaranty Association's mission is centered around safeguarding the interests of policyholders and claimants impacted by insolvent insurance companies. In line with the Vermont state statute, Section 3611 of the Act, the association ensures the continuity of insurance coverage and claim payments for policyholders affected by the financial instability of their insurance providers. This essential function serves to maintain financial stability and security for policyholders, thereby upholding the integrity of the insurance industry.
Official website here: www.gfms.org
What is the revenue of Vermont Property And Casualty Insurance Guaranty Association?
Vermont Property And Casualty Insurance Guaranty Association's revenue in 2023 was $314,630.
Official website here: www.gfms.org
Who are the executives of Vermont Property And Casualty 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 Vermont Property And Casualty Insurance Guaranty Association?
Vermont Property And Casualty Insurance Guaranty Association's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.gfms.org
Learn more at the official website: www.gfms.org
Mission Statement of Vermont Property And Casualty Insurance Guaranty Association
Vermont Property and Casualty Insurance Guaranty Association, in line with its mission, works diligently to safeguard the interests of policyholders and claimants whose insurance providers have become insolvent. Adhering to the guidelines set forth in Section 3611 of the Act, this organization serves as a shield for policyholders and claimants, ensuring their financial protection during challenging times. The association's commitment to its mission is instrumental in upholding the trust and security that policyholders and claimants rightfully expect from their insurance providers.
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Impact
October, 2024
The Vermont Property And Casualty Insurance Guaranty Association plays a crucial role in providing financial protection to policyholders and claimants affected by the insolvency of insurance companies. By adhering to the Vermont state statute, Section 3611 of the Act, the Association ensures that individuals and businesses can recover claims even when their insurers fail. This function is essential for maintaining the stability and trust in the insurance market, as it mitigates the financial fallout for affected policyholders, allowing them to navigate the aftermath of an insurer's insolvency with greater confidence and security. The Association's mission directly supports the financial well-being of those at risk, fostering a sense of mutual benefit within the community it serves.
This information is meant to be a general summary of Vermont Property And Casualty 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 2023.
- Investment Income: $778,348
- Program Service Revenue: $96,360
- Gross Receipts: $19,605,515
Assets and Liabilities:
- Total Assets: $30,958,059
- Total Liabilities: $0
- Net Assets: $30,958,059
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Recovery
Revenue
$96,360
Organization Details
Founding Year
1969
Principal Officer
Barbara Petersen Law
Website
www.gfms.orgNTEE Category
Code: Y20 - Mutual benefit
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