Motor Vehicle Accident Indemnification Corporation

What Motor Vehicle Accident Indemnification Corporation does

Motor Vehicle Accident Indemnification Corporation (MVAIC) is a New York State-mandated nonprofit organization, established in 1958 by the New York State Legislature through enactment of Article 17-A (now Article 52) of the New York Insurance Law. The organization serves as the state's last-resort insurer for motor vehicle accident victims in New York who cannot recover compensation from any other source — specifically, victims injured by uninsured motorists, hit-and-run drivers, or in situations where no other insurance coverage is available. MVAIC administers two core coverage lines: No-Fault Benefits Coverage (covering medical expenses, work loss up to $2,000 per month for a maximum of three years, and other expenses up to $25 per day for one year) and Bodily Injury Coverage (for physical injury including death claims).

The organization's technology footprint is minimal and administrative in nature. The website (mvaic.com), powered by Directive on a Joomla-based CMS, serves as the primary digital channel for eligibility screening via an online questionnaire, downloadable claims forms (NOI, HHA, and the NY DFS-prescribed NF1-NF10 series), and a glossary of insurance terms. Claims submission remains mail-based to the Manhattan headquarters at 100 William Street, 14th Floor, with phone support at (646) 205-7800 as the only real-time contact channel. No mobile applications, APIs, or digital claims intake mechanisms are in evidence.

MVAIC's business model is assessment-funded rather than market-priced: as a nonprofit created by statute, it does not charge claimants premiums but is funded through industry assessments under NY Insurance Law. Pricing and coverage limits are set by regulation, not negotiated commercially. The organization is regulated by the NY State Department of Financial Services under Regulation 68, holds no parent company or subsidiaries, has issued no funding rounds, and operates exclusively within New York State. It does not pursue equity ownership, revenue growth, or expansion as traditional corporate objectives; its scope is bounded by statute, making it functionally a public-purpose administrative entity rather than a growth-oriented enterprise.

Name

Motor Vehicle Accident Indemnification Corporation

Legal name

Motor Vehicle Accident Indemnification Corporation

Website

https://mvaic.com

Company type

Private

Founded year

1958

Operating status

Operating

Headcount range

101–250 employees

Short description

MVAIC is a New York State-mandated nonprofit, established in 1958 under Article 52 of the NY Insurance Law, providing last-resort No-Fault and Bodily Injury coverage to New York motor vehicle accident victims who cannot recover from uninsured motorists or other insurance sources.

Ownership category

akta.pro rank

Product category

Uninsured Motorist Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Direct Insurance (except Life, Health, and Medical) Carriers (52412), Other Insurance Funds (52519)

SIC

Fire, Marine & Casualty Insurance (6331), Accident & Health Insurance (6321)

akta.pro primary industry

Motor Vehicle Liability Insurance (FSAJAMAC)

akta.pro secondary industries

Travel & Accident (Non-Life) Insurance (FSAJAMAN), Accident Medical Expense Insurance (Supplemental Accident) (FSAIALAE)

Keywords

• No-fault insurance
• Uninsured motorist coverage
• Bodily injury claims
• Motor vehicle accident indemnification
• Last-resort auto insurance

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Others

Revenue model

1. Claims Administration Services: MVAIC operates as a nonprofit organization created by New York State legislation (Article 52 of the NY Insurance Law) to provide No-Fault and Bodily Injury coverage to qualified claimants who cannot obtain compensation from other sources. The organization is funded through assessments and operates on a not-for-profit basis.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

MVAIC is a New York State-mandated non-profit corporation that administers No-Fault and Bodily Injury insurance coverage for qualified motor vehicle accident victims in New York State who cannot obtain compensation from other sources — primarily those injured by uninsured motorists, hit-and-run drivers, or where no other insurance is available. Coverage includes prompt payment of medical expenses, work loss benefits (up to $2,000 per month for three years), and other necessary expenses (up to $25 per day for one year), as well as Bodily Injury coverage for physical injury and death.

Product overview

Motor Vehicle Accident Indemnification Corporation (MVAIC) operates as a non-profit organization established in 1958 by the New York State Legislature to provide insurance coverage to victims of motor vehicle accidents caused by uninsured motorists. The organization offers two core insurance products: No-Fault Benefits Coverage (for medical expenses, work loss up to $2,000/month for three years, and other expenses up to $25/day) and Bodily Injury Coverage. The service portfolio includes claims submission and processing through documentation requirements including the Notice of Intention (NOI) form and Household Affidavit (HHA), both requiring notarization. MVAIC also provides prescribed No-Fault forms (NF1-NF10) for various claim verification purposes and an eligibility questionnaire to help potential claimants determine their qualification for benefits.

Differentiator

Problem solved

Functional benefit

Products and services

• No-Fault Benefits Coverage Insurance coverage providing prompt payment of medical expenses, work loss benefits (up to $2,000 per month for a maximum of three years), and other necessary expenses (up to $25 per day for one year) for eligible victims of motor vehicle accidents in New York State caused by uninsured motorists, hit-and-run drivers, or where no other insurance coverage is available.
• Bodily Injury Coverage Insurance coverage for physical injury, including death, resulting from motor vehicle accidents in New York State caused by uninsured motorists or financially irresponsible drivers. Available to qualified claimants who lack other available insurance coverage.

Quantifiable outcome

• Work loss coverage available up to $2,000 per month for a maximum period of three years from the date of accident
• +1 more outcomes

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered minor and core.

• NICB (National Insurance Crime Bureau)minorOthersNICB is referenced as a resource on MVAIC's website. NICB is a not-for-profit organization that works with insurance companies and law enforcement to investigate and prevent insurance fraud.
• NY State Department of Financial ServicescoreOthersMVAIC is regulated by and operates pursuant to New York State Insurance Law. The NY DFS oversees MVAIC's operations and publishes No-Fault regulations (Regulation 68) that govern MVAIC's coverage.

Scale indicators2 records

Recent moves5 records

Expansion highlights3 records

Market position

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Motor Vehicle Accident Indemnification Corporation