National Organization Of Life And Health Insurance Guaranty Associations - NOLHGA

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DEFINITION of 'National Organization Of Life And Health Insurance Guaranty Associations - NOLHGA'

NOLHGA is a voluntary organization of U.S. life- and health-insurance guaranty associations. Founded in 1983, it covers policyholders when a multistate life- or health-insurance company fails.

BREAKING DOWN 'National Organization Of Life And Health Insurance Guaranty Associations - NOLHGA'

NOLHGA pays policyholders' claims when an insolvent insurance company is unable to. It raises the needed funds from other insurance companies doing business in the states where the failed insurer was doing business. Each insurance company pays a special assessment in proportion to the amount of premiums it collects in that state.

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RELATED FAQS
  1. What happens if my insurance claim falls below the deductible level?

    Though the ins and outs of health insurance are often confusing, the concept of the insurance deductible is relatively straightforward. ... Read Full Answer >>
  2. How is the deductible I paid for my insurance claim treated for tax purposes?

    The deductible you pay on your health insurance policy may be tax-deductible if you meet certain conditions. However, whether ... Read Full Answer >>
  3. What are the main factors that impact share prices in the insurance sector?

    The main factors that impact share prices in the insurance sector are interest rates, earnings and actuarial risk. In the ... Read Full Answer >>
  4. Why do insurance policies have deductibles?

    Insurance policies have deductibles for behavioral and financial reasons. Moral Hazards Deductibles mitigate the behavioral ... Read Full Answer >>
  5. Which emerging markets are seeing the strongest growth in the insurance sector?

    The emerging market economies seeing the strongest growth for the insurance sector are primarily the main emerging market ... Read Full Answer >>
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    A wide range of possible deductibles are available with health insurance plans, starting as low as a few hundred dollars ... Read Full Answer >>

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