About Us/Frequently Asked Questions
The Illinois Insurance Guaranty Fund (IIGF) is a non-profit organization created by statute in July 1971. The purpose of IIGF is to provide protection to the policyholders and claimants of insolvent member property and casualty insurance companies. In order to be a member company, an insurance carrier must hold a certificate of authority to transact property and casualty business in Illinois. These member companies support IIGF’s operations financially, through assessments, and in the form of leadership through participation on IIGF’s Board of Directors.
In the event that a member company becomes insolvent and is ordered into liquidation, IIGF handles its claims in accordance with statutory language, including (215 ILCS 5/) and (215 ILCS 5/Art. XXXIV). These provisions set forth the full definition for different types of "covered claims" and establish several important limits on coverage.
IIGF’s offices are located in Chicago, Illinois. The organization works with receivers and liquidators across the country to promptly respond to the individuals and businesses affected by the insolvency of their insurers. Our team is made up of claims handling, accounting, administration and technology professionals.
Please click on the questions below to learn more about the Guaranty Fund.