Publications

The materials below are organized to provide general information concerning the topics of insurance insolvencies and property & casualty guaranty funds. Individual items below may consist of a memo on a particular subject, a PowerPoint presentation, the text of a speech, etc. Each item typically takes from 10-20 minutes to review, although a couple of the items are 40 pages or more in length and may take as much as 30-45 minutes to review. The below list is organized so that the more general and elementary materials are at the top of the list. As one moves down the list, the materials explore issues in greater depth.

Introductory Materials

1. Overview of insolvencies (six pages). This document is intended to provide a basic overview of the insolvency process and the property-casualty insurance guaranty fund system. It includes a Q&A directed toward insurance consumers who may not have prior knowledge of insurance insolvencies or guaranty funds.

2. Overview of Insurance Insolvencies and Guaranty Funds (PowerPoint Presentation – 66 slides). This power point presentation provides a moderately detailed outline of the structure and function of the property-casualty insurance receivership process and the insurance guaranty fund system. It is intended for an audience with at least some knowledge of the state insurance regulatory system and related concepts.

More in-depth materials

The next three papers provide analysis of the guaranty fund system. Each analyzes and critiques the guaranty fund system focusing on a different time period.

3. Review of Guaranty Funds for period 1970-1995 (23 pages) . 1995 article by Christopher J. Wilcox that assesses the performance of each of the life/health and property/casualty guaranty association system's performance for the first twenty-years.

4. Review of Guaranty Funds for the 1990's (21 pages). This article by Kevin Harris presents accomplishments and lessons learned from the 1990's.

5. Review of Guaranty Funds for period 2000-2004 (40 pages). This NCIGF Board Task Force report analyzes issues presented by the record level of property/casualty insolvency activity that occurred during the period 2000-2004. While the report's focus concerns these recent insolvencies and the challenges presented by them, the report also includes a comprehensive discussion of the development of guaranty fund and liquidation (insolvency) law and also the impact of the evolution of property/casualty insurance products. Importantly, the report discusses particular challenges presented by insolvency laws not keeping pace with the ever-involving property/casualty industry. These challenges have created the need for insolvency law reforms currently being recommended by the NCIGF.

Premium Relief Dilutes Fundamental Aim Of Guaranty Fund System

Guaranty Associations' Fast-Track Approach to Unearned Premium Claims Puts Payment on the Fast Track for Homeowners, Auto Policyholders

Materials concerning current “hot” topics

The guaranty funds operate in a continually evolving insurance marketplace. The below materials concern just a few of the important issues that the guaranty funds and the insolvency community are currently addressing.

6. NCIGF paper discussing implications of proposals for Optional Federal Chartering of insurers (41 pages) – This 2005 NCIGF paper analyzes issues raised for guaranty funds by proposals under discussion for optional federal chartering of insurers. This paper, while taking no position on state or federal regulation of insurers, makes compelling arguments for the current state-based guaranty association system to continue to be responsible for protecting insurance consumers, regardless of whether insurers are licensed and regulated at the state or federal level.

7. Solvent Run Offs (three pages). Recently proposals have been floated to “run-off” financially troubled companies rather than place them in to a statutory liquidation proceeding. This article by Kevin Harris which appeared in the October 2005 NCIGF Commentary discusses important issues raised by such runoffs.

8. Why Large Deductible Reimbursements Belong To Insurance Guaranty Funds (four pages). This October 2006 NCIGF Commentary article by Tom Jenkins and Rowe Snider explains large deductible business that has been written by recent large insolvent insurers and explains why large deductible reimbursements belong to guaranty funds that pay the related claims.

9. September 2006 NCIGF Backgrounder Explaining NCIGF Public Policy Goals (four pages). This paper prepared by Roger Schmelzer explains legislative priorities that NCIGF is recommending.