Overview
What is North Carolina Life & Health Insurance Guaranty Association Nclhiga?
The North Carolina Life & Health Insurance Guaranty Association Nclhiga, abbreviated as NCLHIGA, is a nonprofit organization situated in Raleigh, North Carolina. Its primary mission is to offer certain protective measures to policyholders in North Carolina, whose insurance companies may be facing financial difficulties or insolvency. This association operates in accordance with North Carolina General Statute 58-62, ensuring that policyholders' interests are safeguarded during such challenging circumstances.
Official website here: www.nclifega.org
Is North Carolina Life & Health Insurance Guaranty Association Nclhiga legitimate?
North Carolina Life & Health Insurance Guaranty Association Nclhiga is a legitimate nonprofit organization registered as a 501(c)(6) entity. North Carolina Life & Health Insurance Guaranty Association Nclhiga 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.nclifega.org
What is the mission statement of North Carolina Life & Health Insurance Guaranty Association Nclhiga?
The North Carolina Life & Health Insurance Guaranty Association, abbreviated as NCLHIGA, was established with a mission to offer specific safeguards to the policyholders of insolvent insurance companies in North Carolina, in adherence to the North Carolina General Statute 58-62. Its primary function is to provide protection to policyholders in such circumstances, ensuring that they continue to receive coverage or receive compensation for their covered benefits. The association operates to maintain stability within the insurance market in North Carolina, safeguarding policyholders' interests in the event of an insurance company's financial instability.
Official website here: www.nclifega.org
Who is the CEO of North Carolina Life & Health Insurance Guaranty Association Nclhiga?
Bradley E Taman is the Chair of North Carolina Life & Health Insurance Guaranty Association Nclhiga.
Official website here: www.nclifega.org
What is the revenue of North Carolina Life & Health Insurance Guaranty Association Nclhiga?
North Carolina Life & Health Insurance Guaranty Association Nclhiga's revenue in 2022 was $2,077,922.
Official website here: www.nclifega.org
Who are the executives of North Carolina Life & Health Insurance Guaranty Association Nclhiga and what are their salaries?
Here are 12 key members and their salaries:
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Official website here: www.nclifega.org
Where can I find the form 990 for North Carolina Life & Health Insurance Guaranty Association Nclhiga?
North Carolina Life & Health Insurance Guaranty Association Nclhiga's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.nclifega.org
Learn more at the official website: www.nclifega.org
Mission Statement of North Carolina Life & Health Insurance Guaranty Association Nclhiga
North Carolina Life & Health Insurance Guaranty Association Nclhiga, as established, is dedicated to providing specific protections to the policyholders of impaired or insolvent insurers in North Carolina. In alignment with the North Carolina General Statute 58-62, this association serves a vital role in safeguarding the interests of policyholders, ensuring they receive some level of coverage even when their original insurance providers face financial instability. The mission of the North Carolina Life & Health Insurance Guaranty Association Nclhiga is to offer a safety net, providing certain protections to policyholders in times of insurer insolvency, thereby upholding the commitment to financial security and peace of mind for North Carolina residents.
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Impact
October, 2024
The North Carolina Life & Health Insurance Guaranty Association (NCLHIGA) plays a critical role in safeguarding policyholders from the financial fallout associated with insurer insolvency. By providing a safety net for individuals who hold life and health insurance policies, NCLHIGA helps to maintain public confidence in the insurance system. When an insurer becomes impaired or insolvent, the association steps in to ensure that policyholders receive the benefits they are entitled to, in accordance with North Carolina General Statute 58-62.
This protection is vital for North Carolina residents who rely on their insurance policies for health coverage and financial security. The association not only aids in recovering benefits but also helps to minimize disruption and uncertainty for policyholders during a challenging time. Overall, NCLHIGA's impact is substantial, as it creates a more stable insurance marketplace and fosters trust among consumers in the insurance industry.
This information is meant to be a general summary of North Carolina Life & Health Insurance Guaranty Association Nclhiga. 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: $102,815
- Program Service Revenue: $2,092,324
- Gross Receipts: $2,077,922
Assets and Liabilities:
- Total Assets: $19,588,841
- Total Liabilities: $0
- Net Assets: $19,588,841
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Member Insurer Assessm
Revenue
-$11,675
Distributions from DOI
Revenue
$2,089,934
Premiums
Revenue
$14,065
Organization Details
Founding Year
1974
Phone
(919) 833-6838Principal Officer
Bradley E Taman
Main Address
4441 Six Forks Rd Ste 106-153, Raleigh, NC, 276095729
Website
www.nclifega.orgNTEE Category
Code: Y20 - Mutual benefit
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