Overview
What is California Life & Health Insurance Guarantee Association?
The California Life & Health Insurance Guarantee Association is a nonprofit organization headquartered at 2999 Douglas Blvd Ste 180, Roseville, CA 95670. Established under Section 1067 of the California Insurance Code, their primary mission is to safeguard policyholders and their beneficiaries when their insurers face financial instability or insolvency. By providing essential protections, the Association ensures peace of mind and continuity of coverage for individuals in California.
Official website here: www.califega.org
Is California Life & Health Insurance Guarantee Association legitimate?
California Life & Health Insurance Guarantee Association is a legitimate nonprofit organization registered as a 501(c)(6) entity. California Life & Health Insurance Guarantee Association submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are not tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $678,540
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.califega.org
What is the mission statement of California Life & Health Insurance Guarantee Association?
The California Life & Health Insurance Guarantee Association was founded with a mission to safeguard policyholders and their beneficiaries of financially troubled or insolvent health and life insurance companies. In accordance with Section 1067 of the California Insurance Code, the Association ensures the continuity of insurance coverage for policyholders during the transition to a new insurer. By assuming the risks of policies from impaired or insolvent insurers, the Association offers peace of mind to those who may face uncertainty due to the instability of their current insurer. The ultimate goal of the Association is to maintain the financial stability of the insurance market and preserve the trust between policyholders and the insurance industry.
Official website here: www.califega.org
Who is the CEO of California Life & Health Insurance Guarantee Association?
Todd Thakar is the Principal Officer of California Life & Health Insurance Guarantee Association.
Official website here: www.califega.org
What is the revenue of California Life & Health Insurance Guarantee Association?
California Life & Health Insurance Guarantee Association's revenue in 2023 was $26,129,771.
Official website here: www.califega.org
Who are the executives of California Life & Health Insurance Guarantee Association and what are their salaries?
- Todd Takar The Thakar Group (Executive Director)
- Alan Acosta (Director)
- Anthem Blue Cross Life Health Ins (Director)
- Aetna Life Ins Co (Director)
- Cigna Health & Life Ins Co (Director)
- Everlake Life Ins Co (Director)
- Lincoln National Life Ins Co (Director)
- Massachusetts Mutual Life Ins Co (Director)
- Metropolitan Life Ins Co (Director)
- Northwestern Mutual Life Ins Co (Director)
- Pacific Life Ins Co (Director)
- Prudential Ins Co Of America (Director)
- Transamerica Life Ins Co (Director)
- Unitedhealthcare Ins Co (Director)
- West Coast Life Ins Co (Director)
- Mildred Moon (Chair)
- Sonya Ekart (Vice Chair)
- Jennifer Webb (Secretary Treasurer)
Official website here: www.califega.org
Where can I find the form 990 for California Life & Health Insurance Guarantee Association?
The California Life & Health Insurance Guarantee Association’s most recent form 990 was submitted in 2023 and can be accessed here
Official website here: www.califega.org
Learn more at the official website: www.califega.org
Mission Statement of California Life & Health Insurance Guarantee Association
The California Life & Health Insurance Guarantee Association, also known as the Association, is a vital nonprofit organization that ensures the protection of policyholders and their beneficiaries when their insurers face financial instability. In alignment with Section 1067 of the California Insurance Code, the Association's primary mission is to provide essential safeguards in the face of impaired or insolvent insurance companies.
The Association's role is to offer security and peace of mind to those depending on insurance coverage. By stepping in during times of insurer distress, the organization ensures that policyholders' claims are paid and their coverage remains intact. This crucial intervention not only preserves the financial commitments made by insurers but also safeguards the trust and confidence that policyholders have in their insurance providers.
In essence, the California Life & Health Insurance Guarantee Association acts as a safety net for policyholders and their beneficiaries in the event of an insurer's insolvency. Its unwavering commitment to maintaining the continuity of insurance coverage allows policyholders to focus on their personal and financial well-being, without the added burden of worrying about the stability of their insurer.
Impact
This information is meant to be a general summary of California Life & Health Insurance Guarantee Association. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
The California Life & Health Insurance Guarantee Association plays a crucial role in providing protections to policyholders and beneficiaries of impaired or insolvent insurers in accordance with Section 1067 of the California Insurance Code. By fulfilling its mission of safeguarding the interests of policyholders, this association offers a safety net for individuals who may face uncertainties due to insurer insolvency or impairment. Its impact is significant in providing a sense of security and stability to policyholders and beneficiaries in California's insurance landscape.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
POLICYHOLDER PREMIUMS
Revenue
$17,184
INSOLVENCY ESTATE DISTRIBUTIONS
Revenue
$25,289,313
Organization Details
Founding Year
1991
Phone
(916) 631-1581
Principal Officer
Todd Thakar
Main Address
2999 Douglas Blvd Ste 180, Roseville, CA, 956704444
Website
www.califega.org
NTEE Category
Code: Y20 - Mutual benefit
If you are a representative of California Life & Health Insurance Guarantee Association and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.