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How are the obligations of the Guaranty Association funded?

April 26, 2017Association Guaranty obligations

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How are the obligations of the Guaranty Association funded?

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All insurance companies licensed to do business in the state of Nebraska are required to be members of the Guaranty Association. When a member insurer becomes insolvent, all other member insurers writing the same business as the insolvent insurer (life, annuity or health) are assessed by the Guaranty Association to pay the Guaranty Associations obligations for the insolvent insurance companys liabilities.