NEW Q: Will the guaranty fund send unearned premium checks automatically, without requiring the policyholder to complete and return a claim form?
The Texas guaranty association will be sending unearned premium checks automatically to Texas policyholders, without requiring the policyholder to complete and return a claim form. Residents in other states should check with their respective state’s guaranty association. The SDR is presently analyzing the process that Vesta Fire Insurance Corporation and its Subsidiaries (including Texas Select) previously utilized in the return of unearned premium to its policyholders. The SDR and the National Conference of Insurance Guaranty Funds, on behalf of all affected Guaranty Associations, will be working together to implement a process that facilitates this refund in the most expeditious manner possible. All unearned premium refunds will be paid to the policyholder, unless the insured has assigned rights to another party such as a mortgage company. These amounts will be paid by the appropriate Guaranty Association. The calculation of the premium refund will be completed based upon the informa
Related Questions
- NEW Q: Will the guaranty fund send unearned premium checks automatically, without requiring the policyholder to complete and return a claim form?
- If I am claiming Guaranty Fund Credits on the premium tax return, what needs to be submitted with the tax return?
- How long does a policyholder have to wait to receive a payment from the guaranty fund?
