Guaranty Fund Assessment Liability Information

Data and information set forth on this Web site has been provided by or derived from data and information provided by third parties. Although we believe that the data and information is generally correct, and care has been taken in the creation and maintenance of this data, we have not made any effort to independently verify such data, and we therefore do not assume any responsibility whatsoever for its accuracy. It is important to understand that in some cases, estimates developed by either NCIGF or third parties have been used.  While we believe our estimates are reasonable, and we have no reason to believe that estimates of others are not reasonable, we disclaim any responsibility for the accuracy of such estimates.

Assessment Liability Report

The Assessment Liability Report includes - by statutory account of each state guaranty fund - the maximum assessment (capacity), net assessable premium, actual and projected assessment/refund information, lines of business, recoupment provisions, assessment type and procedures.  The NCIGF publishes the Assessment Liability Report - which is compatible with the new assessment reporting guideline SSAP 35R – prior to each quarter-end to assist insurers in estimating their P&C guaranty fund assessment liabilities.  Also included is a “5 year History of Assessments.”

SSAP 35 (Guaranty Fund and Other Assessments):
In October the NAIC’s Statutory Accounting and Principles Working Group approved SSAP 35R - Guaranty Fund and Other Assessments - which adopts the GAAP guidance (with some statutory modifications) for reporting assessment liabilities and coincides with how the majority of guaranty funds make assessments.  Effective January 1, 2011 SSAP 35R fixes the problems expressed over the past nine years by P&C companies attempting to record their assessment liabilities to “ultimate loss expected from the insolvency.”  Under SSAP 35R the liability to be recorded - for prospective-based assessments authorized by the majority of guaranty funds - is what can be reasonably estimated and relates to premium writings for the year preceding the year of assessments.

Click here to review statutory provisions of interest to insurance accountants.

Assessment Liability Report - 4th quarter 2016 - last updated 12/29/2016.
5 year History of Assessments - updated 06/22/2016.


Assessments and Refunds

This section shows assessments authorized and refunds from inception of the guaranty fund system through 2015.

Assessments and Refunds by Fund - Inception-to-Date (through 2015) - last update 06/22/2016
Assessments and Refunds by Year - Inception-to-Date (through 2015) - last update 06/22/2016