The Georgia Insurers Insolvency Pool (GIIP) provides a safety net for Georgia policyholders and claimants when a licensed property and casualty insurance company becomes insolvent. The information below explains how GIIP operates, who may be eligible for protection, and the types of claims and coverage that may be available.
GIIP was created under Georgia law to help protect policyholders and claimants from financial loss when a member property and casualty insurance company is declared insolvent and ordered into liquidation by a court. Coverage is subject to the provisions, exclusions, and limitations established by Georgia law.
The FAQs below are intended to provide general information and guidance regarding the GIIP and the insolvency process. Because laws and regulations may change over time, the information presented here should not be considered legal advice. In the event of any conflict between these FAQs and applicable Georgia law, the law will govern.
The Georgia Insurers Insolvency Pool (GIIP) is a nonprofit association established by the Georgia General Assembly to provide a safety net for Georgia insurance consumers when a licensed property and casualty insurance company becomes insolvent. GIIP is not an insurance company. It does not issue insurance policies, collect premiums, generate profits, or assume all the responsibilities of an insolvent insurer.
Its purpose is to pay covered claims, subject to the provisions and limitations of Georgia law, when a member insurer is declared insolvent and ordered liquidated by a court. All admitted companies licensed to write property and casualty insurance in Georgia are required to be members of GIIP and contribute to its funding. Through this system, GIIP helps protect policyholders and claimants from certain financial losses resulting from insurer insolvencies while promoting public confidence in Georgia's insurance marketplace.
The Georgia Insurers Insolvency Pool (GIIP) uses Social Security numbers only for specific claim-related purposes, as outlined in its Privacy Policy. Federal reporting requirements, including those established under the Medicare, Medicaid, and SCHIP Extension Act of 2007 (MMSEA), may require GIIP to determine whether a claimant receiving compensation for bodily injury is a Medicare beneficiary.
To comply with these requirements, GIIP may need to obtain and verify the claimant's Social Security number. Any information collected is used solely for authorized claims administration and reporting purposes and is handled in accordance with applicable privacy and data protection laws.
GIIP provides coverage to owners of covered policies issued by "member insurers" (admitted companies licensed to write property and casualty policies in the State of Georgia). To determine if a company is licensed to write business in Georgia, you may access the Office's website or call 404-656-2070. The Department maintains complete and current records of all insurance companies licensed to do business in Georgia.
Yes, you will need to file a claim separately with Georgia Insurers Insolvency Pool (GIIP) as the statute has a bar date for all claims.
The Georgia Office of Insurance and Fire Safety Commissioner maintains records of insurance companies licensed to do business in Georgia. Consumers can verify whether an insurance company is authorized to operate in the state by visiting the Georgia Insurance Department website company search page (https://oci.georgia.gov/company-search) or by contacting the agency directly by calling 404-656-2070 for assistance.
The Georgia Insurers Insolvency Pool (GIIP) is comprised of admitted member companies that are licensed to write covered property and casualty insurance lines in Georgia. Membership is required for insurers authorized to write covered lines of business in the state, and these member companies help fund the Pool's operations and claim payment obligations in the event of an insurer's insolvency.
When an insurance company is placed into liquidation, the State Insurance Commissioner serves as the statutory liquidator.
Proof of Claim forms are issued by the Receiver or Liquidator of the insolvent insurance company, not by the Georgia Insurers Insolvency Pool (GIIP). If you have questions about whether you should file a Proof of Claim or need assistance completing the form, you should contact the Receiver or Liquidator handling the insurer's liquidation.
Information regarding the Receiver, Liquidator, and any applicable claims filing requirements is typically available through the liquidation proceedings or the insurance regulatory authority overseeing the insolvency. Claimants should carefully review any notices received from the Receiver or Liquidator and comply with all applicable deadlines.
Filing a Proof of Claim is generally not required to assert a covered claim with the Georgia Insurers Insolvency Pool (GIIP). However, filing a Proof of Claim may be necessary to preserve your rights in the liquidation proceedings of the insolvent insurer.
A Proof of Claim can help protect your ability to participate in any distributions made from the insurer's receivership estate for amounts that are not covered by GIIP or that exceed the statutory limits of protection provided under Georgia law. If you are unsure whether you should file a Proof of Claim, you should consult the Receiver or Liquidator handling the insurer's liquidation.
Yes. The bar date is the earlier of 18 months after the date of liquidation or the final bar date set by the liquidation order.
If you receive notice of a claim or lawsuit involving an insolvent insurer, you should contact the Georgia Insurers Insolvency Pool (GIIP) as soon as possible and provide copies of all relevant documents, including any claim forms, legal pleadings, summonses, complaints, or other correspondence related to the matter.
If a lawsuit involves a covered claim under the applicable insurance policy, the Georgia Insurers Insolvency Pool (GIIP) may assume responsibility for the defense of the insured, subject to the terms, conditions, and limitations of the policy and applicable Georgia law.
GIIP may elect to continue using the attorney previously assigned to the case or may appoint different legal counsel to represent the insured. Any defense provided by GIIP is subject to the coverage afforded by the policy and the protections available under Georgia's insolvency statutes.
When an insurance company is placed into liquidation, applicable law may provide for a temporary stay of certain legal proceedings involving the insolvent insurer or covered claims. The purpose of the stay is to allow the Georgia Insurers Insolvency Pool (GIIP) and other parties time to evaluate claims, assume appropriate responsibilities, and protect the interests of policyholders and claimants.
The duration and scope of any stay are determined by applicable law and court orders. In some cases, a court may extend the stay period if additional time is needed. Parties involved in pending litigation should consult with their attorney, the Receiver or Liquidator, or GIIP regarding the impact of the insolvency on their case.
The Georgia Insurers Insolvency Pool (GIIP) was established by the Georgia General Assembly to help protect policyholders and claimants when a licensed property and casualty insurance company becomes insolvent. Subject to the provisions and limitations of Georgia law, GIIP may pay covered claims and, when applicable, provide for the defense of insureds under liability insurance policies. Protection is limited to claims that qualify as covered claims under Georgia's insolvency statutes.
Covered claims for unearned premiums may be eligible for protection, subject to the limits and conditions established under Georgia law. Unearned premium refunds are generally processed after the Receiver or Liquidator reviews the insurer's policy records and provides the necessary information to the Georgia Insurers Insolvency Pool (GIIP).
The timing of unearned premium payments can vary depending on the complexity of the insolvency and the condition and availability of the insurer's records. As a result, processing may take several weeks or, in some cases, several months. Policyholders will be notified as information becomes available and claims are processed.
Not necessarily. The Georgia Insurers Insolvency Pool (GIIP) is intended to provide a safety net for policyholders and claimants when a licensed property and casualty insurance company becomes insolvent, but it is not a complete replacement for insurance coverage. Georgia law establishes certain limitations on the types of claims that may be covered and the maximum amounts that may be paid.
The responsibilities of the Georgia Insurers Insolvency Pool (GIIP) are generally triggered when a court enters an order of liquidation for a licensed property and casualty insurance company, and the insurer is determined to be insolvent under applicable law.
To be eligible for protection from GIIP, a claimant or insured must meet the residency and coverage requirements established by Georgia law. In certain circumstances, coverage may also apply to claims involving property permanently located in Georgia. Eligibility for coverage is subject to the specific provisions and limitations of the GIIP Act.
Policyholders and claimants who reside in other states may be eligible for protection through the guaranty association or insolvency pool in their state of residence, depending on the applicable laws and circumstances of the claim.
In many cases, claimants are required to first exhaust any rights they may have under other applicable insurance policies before seeking coverage from the Georgia Insurers Insolvency Pool (GIIP). GIIP may be entitled to offset or reduce its payment obligations by amounts available under other insurance coverage, as provided by Georgia law.
If your claim exceeds the amount payable by GIIP or includes amounts that are not covered under Georgia's insolvency statutes, you may have the right to file a claim with the Receiver or Liquidator handling the insolvent insurer's estate. Any payments on those claims will depend on the availability of assets in the receivership estate and the priority of claims established by applicable law.
GIIP will make reasonable efforts to contact individuals who have open claims with an insolvent insurer. Once claim files and related records are received from the Receiver or Liquidator, GIIP will provide information regarding claim handling procedures, available protections, and how to contact the Pool regarding your claim.
If you have not been contacted within a reasonable period after the insurer is declared insolvent, you are encouraged to contact GIIP to confirm that your claim information has been received. However, GIIP may be unable to provide specific details about your claim or issue any payments until the necessary claim files and records have been transferred from the Receiver or Liquidator and reviewed by GIIP.
Some delays may occur following an insurer's insolvency because GIIP must first obtain claim files and related records from the Receiver or Liquidator and review them before claims can be processed. In some cases, records may be incomplete, disorganized, or require additional review, which can affect processing times.
GIIP will make every reasonable effort to identify and address situations involving significant financial hardship or urgent circumstances. For example, claims involving essential property repairs, vehicle releases, or other time-sensitive matters may receive expedited attention when appropriate.
Claimants are encouraged to remain patient during the transition process. GIIP is committed to handling covered claims as efficiently as possible while ensuring that all claims are reviewed in accordance with applicable law. GIIP will also work to minimize disruptions to eligible workers' compensation benefits and other ongoing payment obligations, subject to the requirements of Georgia law.
Generally, coverage may be available through the Georgia Insurers Insolvency Pool (GIIP); however, Georgia law may exclude certain claims involving large businesses or entities that exceed specified net worth thresholds. Eligibility for coverage is determined by the provisions of Georgia's insolvency statutes and the facts of each claim.
Special rules may also apply to workers' compensation claims. In some circumstances, GIIP may administer or pay workers' compensation benefits that would otherwise be covered by an insolvent insurer, subject to any reimbursement rights or other requirements established by law.
Because eligibility and net worth exclusions vary by state and claim type, businesses with substantial assets or complex claims should contact GIIP directly or consult legal counsel to determine whether coverage is available.
The Georgia Insurers Insolvency Pool (GIIP) protects covered claims arising from certain property and casualty insurance policies issued by licensed insurers that have been declared insolvent. Covered lines of insurance may include automobile insurance, homeowners' insurance, workers' compensation insurance, general liability insurance, professional liability insurance, and other eligible property and casualty coverages, subject to the provisions and limitations of Georgia law.
Not all types of insurance are covered. Coverage eligibility is determined by Georgia's insolvency statutes and the specific terms and conditions applicable to the policy and claim.
For covered claims, the Georgia Insurers Insolvency Pool (GIIP) may provide payment up to the applicable statutory limits and the limits of the insurance policy, subject to the provisions and restrictions established under Georgia law. The amount payable on any claim will depend on the type of coverage involved and the protections available under Georgia's insolvency statutes.
If you have other insurance coverage that may apply to your loss, such as uninsured or underinsured motorist coverage through a solvent insurer, you may be required to pursue those benefits first. Claimants should contact their insurance agent or carrier to determine whether other coverage is available and how it may affect a claim with GIIP.
The Georgia Insurers Insolvency Pool (GIIP) generally protects certain property and casualty insurance claims. GIIP does not provide coverage for life insurance, annuities, health insurance, disability insurance, or other coverages that fall outside the property and casualty insurance lines covered by Georgia law.
Questions regarding life and health insurance company insolvencies should be directed to the Georgia Life & Health Insurance Guaranty Association (GLHIGA). Additional information about life and health insurance guaranty protections can be found at www.glhiga.com.
GIIP also does not provide coverage for certain types of insurance and obligations that are excluded under Georgia law. These may include, but are not limited to, surplus lines insurance, credit insurance, financial guaranty insurance, mortgage guaranty insurance, fidelity and surety bonds, ocean marine insurance, and other coverages specifically excluded by statute.
For a complete list of covered and excluded claims, please refer to the applicable provisions of Georgia law or contact GIIP directly for assistance in determining whether a particular claim may be eligible for coverage.
If an admitted company licensed to write property and casualty insurance in Georgia becomes insolvent and otherwise meets the requirements established by Georgia law, the Georgia Insurers Insolvency Pool (GIIP) may become responsible for handling and paying covered claims. GIIP's obligations generally arise after the insurer has been placed into liquidation by a court and the insolvency has been recognized under the applicable statutory provisions.
Coverage is subject to the eligibility requirements, limitations, and exclusions established by Georgia law. Policyholders and claimants with questions about a specific insurer's insolvency should contact GIIP for additional information regarding available protections and claim procedures.
Yes. Your policy with the insolvent carrier will only remain in effect for a maximum of 30 days or until policy expiration if less than said 30 days.
The Georgia Insurers Insolvency Pool (GIIP) is available to assist policyholders, claimants, insurance professionals, and other interested parties with questions regarding insurer insolvencies and covered claims. For contact information, office hours, and additional resources, please visit the GIIP Contact Page or reach out to our office directly.
For current contact information, including telephone numbers, email addresses, mailing addresses, and other methods of communication, please visit the GIIP Contact Page. The Contact Page contains the most up-to-date information for policyholders, claimants, insurers, and other interested parties seeking assistance.