The failure of an insurance company is administered differently than other business bankruptcies. This is because insurance is regulated by the states and failures are not governed by federal bankruptcy law. When an insurance company becomes insolvent and is unable to pay outstanding claims, a state's courts and the insurance commissioner begin a legal process to determine appropriate action for the company.

When a member insurer is deemed to be insolvent, the Board of Directors of the NCIGA, under the Plan of Operation, may activate the NCIGA to carry out its duties and obligations as defined by statute to protect the insurance buying consumer of the state of NC.


28 American Mutual Liability Insurance Co. 19569
29 American Mutual of Boston 19550
19 Carriers Insurance Company 10529
56 Casualty Reciprocal Exchange 21237
54 Commercial Casualty Company 36374
43 Credit General Insurance Company 12912
36 Employers Casualty Company 21369
52 Fremont Insurance Company 21040
50 Home Insurance Company 22527
13 Ideal Mutual Insurance Company 14230
15 Iowa National Mutual Insurance Company 14346
48 Legion Insurance Company 24422
42 LMI Insurance Company 23086
17 Mission Insurance Company 23604
47 Phico Insurance Company 35718
51 Reciprocal of America 33812
46 Reliance Insurance Company 24457
59 Shelby Mutual Insurance Company 15156
57 South Carolina Insurance Company 24953
55 State Capital Insurance Company 12661
58 Vesta Fire Insurance Company 11762
49 Villanova Insurance Company 19577


2910 Sumner Boulevard, Raleigh, NC 27616 Phone: (919) 783-9790

© 2018 North Carolina Rate Bureau, North Carolina Reinsurance Facility,
North Carolina Insurance Guaranty Association