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Provides Canadian life insurance policyholders with specified levels of protection against loss of benefits due to the financial failure of a member company.
Pays the claims of insolvent property and casualty insurance carriers that are licensed to do business in the state. [requires Macromedia Shockwave plugin]
In the event that a member insurer is found to be insolvent and is ordered to be liquidated by a court, the Guarantee Association Act enables the association to provide protection.
The private companies which insure the homes, cars and other property of Canadians work together to compensate clients in the unlikely event of an insurer's collapse.
