The MONTANA INSURANCE GUARANTY ASSOCIATION (MIGA) is an entity created by Montana statute to protect the public in the event of a failure of a property and/or casualty insurance company.
In the event an insurance company becomes insolvent, the Montana Insurance Guaranty Association will assume the processing of all covered claims in accordance with the applicable insurance policies and the applicable Montana statutes.
MIGA is part of a non-profit, state-based, statutorily-created system that pays certain covered claims of insolvent property and casualty insurance companies. By paying these claims, MIGA protects policy holders and claimants.
Guaranty associations are active in every state, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. State laws require that licensed property and casualty insurance companies belong to the guaranty associations in all states where they are licensed to do business.
A guaranty association system also exists in Montana for the life, health and annuity insurance industry (see link under RESOURCES section); but they operate independently from the property and casualty system. The information on this website concerns only the property and casualty insurance guaranty association (MIGA).