Search for: "Financial Guaranty Insurance Company"
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7 Sep 2011, 6:22 pm
"Approximately $25 million from life insurance companies for a further 'top-up' benefit to increase the coverage up to $250,000 for beneficiaries who are not covered by any state guaranty association, or whose maximum state guaranty association coverage is below $250,000. [read post]
10 Feb 2012, 6:36 am
Best Financial Strength Rating of A- or better; (iv) be able to cover two 100-year storm losses in a single hurricane season; (v) notify the policyholder before assumption that the policy is not covered by the Florida Insurance Guaranty Association; and (vi) provide similar policy coverage terms as Citizens.Opponents of the bill have voiced concerns particularly about the lack of protection against insolvency because surplus lines insurers do not participate in… [read post]
17 Oct 2011, 11:33 am
State life insurance guaranty associations will contribute $730 million. [read post]
28 Dec 2009, 11:43 am
Despite recent calls for federal regulation, annuity issuing life insurance companies are not federally regulated. [read post]
21 Jan 2010, 5:06 am
Considine handles state government relations and public policy issues for financial services, auto and home companies nationwide. [read post]
2 Sep 2011, 11:26 am
A consortium of life insurance companies has agreed to provide hypothetical guaranty association coverage up to $100,000 for ELNY policyholders and/or payees who are not otherwise covered by a state guaranty association. [read post]
8 Oct 2009, 6:56 am
There have been no insurance company missed payments on structured settlement annuities during the current financial crisis that we are aware of". [read post]
3 Nov 2009, 5:00 am
Stewart Title Guaranty Co., supra, 19 Cal.4th 26; Ticconi v. [read post]
3 Sep 2012, 9:00 am
In Florida, the Florida Insurance Guaranty Association (“FIGA”) handles and resolves claims of insolvent insurers under certain statutory guidelines. [read post]
20 Jul 2010, 6:35 pm
These insurers contribute to a state fund, called a guaranty fund, that is used to pay claims if any of these licensed insurers were to fail (go bankrupt). [read post]
5 Mar 2012, 6:13 am
On March 15, 2012, the Supreme Court of Nassau County New York is scheduled to consider a Petition by the Superintendent of the New York State Department of Financial Services (Superintendent) for an Order of Liquidation and Approval of a Restructuring Agreement for Executive Life Insurance Company of New York (ELNY). [read post]
29 May 2024, 8:43 am
However, guaranty funds only cover insurers who are admitted to that state. [read post]
10 Apr 2013, 5:13 pm
The Obama Administration again is proposing that the Board of the Pension Benefit Guaranty Corporation (PBGC) get the power to set premium rates based on the financial soundness of company sponsors to shore up the agency’s finances in hopes of heading off the need for a government bailout of the agency’s liabilities. [read post]
3 Oct 2022, 8:10 am
Similarly, DSLIs are prohibited from writing accident and health coverages, workers’ compensation insurance, financial guaranty insurance as well as a number of other lines of coverage in a multitude of states. [read post]
11 Mar 2010, 9:03 am
Most states have established insurance guaranty associations to act as a safety net against insurer insolvencies. [read post]
18 May 2012, 11:37 am
It was then that the additional guarantors allegedly discovered that the guaranties they signed were drafted more broadly than what was represented to them, and subsequently brought actions against the insured company and the four insured individuals. [read post]
17 Jun 2011, 11:07 am
MBIA Inc. together with its subsidiaries, operates the financial guarantee insurance business. [read post]
2 Jan 2010, 9:33 am
In response, the MIIF has argued that the legislature plainly never intended to subject it to the same range of liabilities as actual insurance companies and that the Supreme Judicial Court has itself made clear that it views the MIIF as the "insurer of last resort. [read post]
4 Jul 2011, 2:25 am
Of the handful of companies in the industry, Genworth Financial Inc., Old Republic International Corp. and United Guaranty, a unit of American International Group Inc., are considered to be in a better position than others because of their businesses are diversified, meaning they can likely cushion the blow of mortgage losses. [read post]
24 Apr 2020, 2:23 pm
While New York’s executive order defines an insurer to include an excess (surplus) lines insurance company, Excess Line Association of New York Bulletin No. 2020-17 (as revised on April 6, 2020) indicates that it is the position of the New York Department of Financial Services that New York’s moratorium does not apply to commercial lines insurance policies issued by surplus lines insurers. [read post]
