Overview
What is North Dakota Insurance Guaranty Association?
The North Dakota Insurance Guaranty Association is a vital nonprofit organization situated within North Dakota. Its primary role is to support policyholders in case of insolvency by handling insurance claims, adjustments, and returning premiums for insurance companies that were licensed and actively operating in the state. This association serves as a safety net, ensuring financial stability and continuity for policyholders when their insurance providers face financial difficulties.
Official website here: www.ndakota.ncigf.org/
Is North Dakota Insurance Guaranty Association legitimate?
North Dakota Insurance Guaranty Association is a legitimate nonprofit organization registered as a 501(c)(6) entity. North Dakota 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: $66,600
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.ndakota.ncigf.org/
What is the mission statement of North Dakota Insurance Guaranty Association?
The North Dakota Insurance Guaranty Association's primary role is to handle insurance claims, carry out adjustments, and return premiums for insolvent insurance companies that had previous licenses and operations within the state. Its mission is centered around providing financial aid and support to policyholders in such circumstances, ensuring they receive the coverage they are entitled to. The Association serves as a safety net, safeguarding policyholders' interests and maintaining confidence in the insurance industry, even during challenging times.
Official website here: www.ndakota.ncigf.org/
Who is the CEO of North Dakota Insurance Guaranty Association?
Jeff Cahill is the Managing Secretary of North Dakota Insurance Guaranty Association.
Official website here: www.ndakota.ncigf.org/
What is the revenue of North Dakota Insurance Guaranty Association?
North Dakota Insurance Guaranty Association's revenue in 2022 was $53,291.
Official website here: www.ndakota.ncigf.org/
Who are the executives of North Dakota Insurance Guaranty Association and what are their salaries?
There 6 volunteers at North Dakota Insurance Guaranty Association.
Here are 8 key members and their salaries:
- Compensation: $23,400
- Related: $0
- Other: $0
- Compensation: $0
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- 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: $43,200
- Related: $0
- Other: $0
Official website here: www.ndakota.ncigf.org/
Where can I find the form 990 for North Dakota Insurance Guaranty Association?
North Dakota Insurance Guaranty Association's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ndakota.ncigf.org/
Learn more at the official website: www.ndakota.ncigf.org/
Mission Statement of North Dakota Insurance Guaranty Association
The North Dakota Insurance Guaranty Association, in its mission, is tasked with providing financial relief to policyholders whose insurance companies have become insolvent. This nonprofit organization assumes the responsibility of paying out insurance claims, as well as adjusting and returning premiums, for these bankrupt companies that were formerly licensed and active in the state of North Dakota. By carrying out this role, the North Dakota Insurance Guaranty Association offers a crucial safety net to policyholders, ensuring that they receive the coverage they paid for, even when their original insurance provider is no longer in business.
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Impact
October, 2024
The North Dakota Insurance Guaranty Association plays a crucial role in ensuring the financial security of policyholders within the state. By paying insurance claims, adjusting claims, and returning premiums for insolvent insurance companies, it protects consumers from the financial repercussions that can arise when an insurer fails. This safety net helps maintain confidence in the insurance market, assuring individuals and businesses in North Dakota that their claims will be honored even in the face of unforeseen insolvencies. The Association serves as a vital resource for policyholders, fostering stability and trust in the overall insurance landscape of the state.
This information is meant to be a general summary of North Dakota 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: $53,291
- Gross Receipts: $55,230
Assets and Liabilities:
- Total Assets: $6,442,437
- Total Liabilities: $0
- Net Assets: $6,442,437
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Organization Details
Founding Year
1976
Phone
(701) 224-9555Principal Officer
Jeff Cahill
Main Address
PO Box 2634, Bismarck, ND, 585022634
Website
www.ndakota.ncigf.org/NTEE Category
Code: Y20 - Mutual benefit
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