Skip to Content

Are there limits on the amount that guaranty funds will pay?

Yes. Most covered claims are ‘capped’ at certain amounts by IC 27-6-8-7. ;
Insolvent companies for which an order of rehabilitation or liquidation occurs on or after July 1, 2013:

  • $300,000 for most covered claims, subject to the policy limits, terms and conditions, whichever is less.
  • No specified dollar limit applies to covered workers compensation claims
  • The lesser of 80% of paid but unearned premium or $650 multiplied by the number of months remaining in the policy term, not to exceed 12 months

Insolvent companies for which an order of rehabilitation or liquidation occurred on or before June 30, 2013:

  • $100,000 for most covered claims including workers compensation, subject to the policy limits, terms and conditions, whichever is less.
  • The lesser of 80% of paid but unearned premium or $650 multiplied by the number of months remaining in the policy term, not to exceed 12 months

 



faq | by Dr. Radut