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Delaware Life & Health Insurance Guaranty Association
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220 Continental Drive, Suite 309 / Newark, DE 19713 |
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Frequently Asked Questions  |
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What will happen to my insurance coverage if the guaranty association becomes liable for my policy?
Protection can be provided in one of several different ways. For example, the guaranty association may arrange for a financially sound insurer to take over the troubled company's policies and assume the responsibility for continuing coverage and paying covered claims. The Delaware guaranty association may provide coverage directly by continuing the insurer's policies or issuing replacement policies with the guaranty association; in some situations, the Delaware guaranty association may work with other state guaranty associations to develop an overall plan to provide protection for the failed insurer's policyholders. The amount of protection provided and when you receive it may depend on the particular arrangement worked out for handling the failed insurer's obligations.
For certain cancelable insurance policies, state law provides for the guaranty association to continue your coverage only for a limited time. |
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| NOTE: This information is not intended as legal advice, and no liability is assumed in connection with its use. The applicable state guaranty association statute is the controlling authority, regardless of any information presented on this site. Users should seek advice from a qualified attorney and should not rely on this compilation when considering any questions relating to guaranty association coverage. |
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