Insurance Company Insolvencies
Facts + Statistics
PROPERTY/CASUALTY GUARANTY FUND NET ASSESSMENTS, 1978-2010
| Year | Net assessment (1) | Year | Net assessment (1) |
|---|---|---|---|
| Pre-1978 | $11,647,035 | 1994 | $497,752,370 (2) |
| 1978 | 139,349,343 | 1995 | 66,562,926 (2) |
| 1979 | 46,222,805 | 1996 | 95,320,605 |
| 1980 | 17,771,834 | 1997 | 236,319,208 |
| 1981 | 49,772,896 | 1998 | 239,212,254 |
| 1982 | 41,109,087 | 1999 | 179,283,004 |
| 1983 | 30,619,239 | 2000 | 306,444,534 |
| 1984 | 97,435,034 | 2001 | 712,776,721 |
| 1985 | 292,417,521 | 2002 | 1,184,153,880 |
| 1986 | 509,409,508 | 2003 | 874,499,309 |
| 1987 | 903,228,359 | 2004 | 952,695,278 |
| 1988 | 464,840,383 | 2005 | 836,130,812 |
| 1989 | 713,869,682 | 2006 | 1,344,487,899 |
| 1990 | 433,562,308 | 2007 | 943,164,094 |
| 1991 | 434,845,812 | 2008 | 385,096,899 |
| 1992 | 383,735,932 | 2009 | 478,391,445 |
| 1993 | 520,215,101 (2) | 2010 | 219,349,059 |
| Total, inception- 2010 |
$14,641,692,175 (3) |
(1) Assessments less refunds.
(2) Includes separate assessments for insolvencies due to Hurricane Andrew totaling $248,542,070.
(3) Includes New York and New York Workers Compensation after 2005.
Source: National Conference of Insurance Guaranty Funds.
PROPERTY/CASUALTY GUARANTY FUND NET ASSESSMENTS BY STATE, 2010
| State | Net assessment (1) | State | Net assessment (1) |
|---|---|---|---|
| Alabama | $6,621,369 | Nebraska | $469,751 |
| Alaska | 0 | Nevada | 0 |
| Arizona | 0 | New Hampshire | -7,641,853 |
| Arkansas | 0 | New Jersey | 114,965,679 |
| California | 176,198,670 | New Jersey Workers Compensation | 17,003,899 |
| Colorado | 0 | New Mexico | 0 |
| Connecticut | -12,920,899 | New York | 0 |
| Delaware | 521,950 | New York Workers Compensation | 0 |
| D.C. | -1,081,523 | North Carolina | -2,000,000 |
| Florida | 0 | North Dakota | 0 |
| Florida Workers Compensation | 0 | Ohio | -23,000,000 |
| Georgia | 0 | Oklahoma | -17,000,000 |
| Hawaii | 34,814,532 | Oregon | 0 |
| Idaho | 0 | Pennsylvania | 4,500,000 |
| Illinois | 0 | Pennsylvania Workers Compensation | 0 |
| Indiana | 0 | Puerto Rico | 0 |
| Iowa | 0 | Rhode Island | -3,589,917 |
| Kansas | 0 | South Carolina | 0 |
| Kentucky | 0 | South Dakota | 0 |
| Louisiana | 0 | Tennessee | 0 |
| Maine | 1,505,488 | Texas | -47,577,744 |
| Maryland | 0 | Utah | 0 |
| Massachusetts | 3,616,036 | Vermont | 943,621 |
| Michigan | -20,000,000 | Virginia | 0 |
| Minnesota | 0 | Washington | 0 |
| Mississippi | 0 | West Virginia | -7,000,000 |
| Missouri | 0 | Wisconsin | 0 |
| Montana | 0 | Wyoming | 0 |
| United States | $219,349,059 |
(1) Assessments less refunds. Negative numbers represent net refunds.
Source: National Conference of Insurance Guaranty Funds.