West Virginia Insurance Guaranty Association

West Virginia Insurance Guaranty Association (wviga) is a not-for-profit, unincorporated legal entity. It provides a mechanism for the payment of covered claims, including refunds of unearned premiums, to avoid financial loss to West Virginia claimants or policyholders because of the insolvency of direct insurers(excluding life, title surety, disability, credit, mortgage Guaranty and ocean marine). Insurance companies are members of the Association if they write Insurance covered by the Association and if they are licensed to write Insurance in West Virginia. When an Insurance company becomes insolvent, the Association estimates the amount of covered claims of West Virginia claimants and policyholders, and based on certain prescribed procedures, assesses the member Insurance companies for their portion of such covered losses. A separate fund is maintained for each insolvency and receipts and disbursements allocable to a specific insolvency are accounted for in that fund.