Property & Casualty Insurance Guaranty

What Property & Casualty Insurance Guaranty does

Property & Casualty Insurance Guaranty Corporation (PCIGC) is a non-profit statutory guaranty association created by the Maryland Legislature in 1971 and domiciled in Towson, Maryland. Its function is to protect Maryland residents who are claimants or policyholders of insolvent property and casualty insurance companies by providing three statutory benefits: paying unearned premium claims, paying automobile accident claims that cannot be paid by other insurers, and defending lawsuits against policyholders of insolvent insurers (subject to statutory limits and a $100 deductible). Membership is mandatory for all licensed Maryland direct writers of P&C insurance, and the corporation is funded through assessments on these member insurers rather than commercial revenue; no pricing model, products, or services are sold.

PCIGC currently administers 40 open receiverships, with Paramount Insurance Company (placed into liquidation by the Circuit Court for Baltimore City on January 9, 2019, Case No. 24-C-18-005120) being the most prominent recent matter. For Paramount, PCIGC coordinates with the District of Columbia Insurance Guaranty Association (DCIGA) — which handles D.C. policyholders via Guaranty Fund Management Services in Boston — and the court-appointed Receiver, Risk & Regulatory Consulting, LLC. The organization also participates in industry bodies including the National Conference of Insurance Guaranty Funds and the National Association of Insurance Commissioners, and is referenced from the Maryland Insurance Administration's consumer-facing site.

PCIGC operates with 11-50 employees and a single Maryland office (305 Washington Avenue, Suite 600, Towson). No proprietary technology platform, APIs, software products, or digital channels beyond an informational website (pcigcweb.com), telephone, and mail are disclosed. There is no disclosed AI capability, no funding history, no M&A activity, no parent or subsidiary entities, and no executive team listed in the source data — consistent with a small, stable, legislatively-chartered administrative body whose activity is event-driven by insurer insolvencies rather than market-expansion-led.

Name

Property & Casualty Insurance Guaranty

Legal name

Property & Casualty Insurance Guaranty Corporation

Website

https://pcigcweb.com

Company type

Private

Founded year

1971

Operating status

Operating

Headcount range

11–50 employees

Short description

Property & Casualty Insurance Guaranty Corporation is a Maryland statutory non-profit that pays covered claims and defends lawsuits for policyholders of insolvent property and casualty insurers, funded by mandatory assessments on Maryland-licensed P&C writers.

Ownership category

akta.pro rank

Product category

Insurance Guaranty Services

NAICS

Other Insurance Funds (52519), Insurance and Employee Benefit Funds (5251)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Public Liability (Premises/Operations) (FSAJADAD)

akta.pro secondary industry

General Liability Insurance (FSAJAMAE)

Keywords

• Insurance guaranty association
• Property casualty insurance
• Insurance insolvency coverage
• Claims administration services
• Statutory guaranty fund

Headquarters

HQ city

Towson

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others

Distribution channels1 record

Marketing channels2 records

Core offering

Property & Casualty Insurance Guaranty Corporation is a Maryland non-profit guaranty association that pays covered claims and provides legal defense for Maryland residents who are policyholders or claimants of insolvent property and casualty insurance companies. Membership is mandatory for all licensed Maryland direct writers of property and casualty insurance, and PCIGC is funded through assessments on its member insurers. Coverage is subject to statutory limits and a $100 deductible.

Product overview

Property & Casualty Insurance Guaranty Corporation (PCIGC) operates as a single, unified non-profit service offering. PCIGC provides guaranty coverage for Maryland residents when property and casualty insurance companies become insolvent. The organization offers three core policyholder benefits: unearned premium claims payments, automobile accident claims payments, and legal defense services for policyholders of insolvent insurers. PCIGC works in coordination with the Receiver (Risk & Regulatory Consulting, LLC) to process and pay covered claims subject to statutory limits.

Differentiator

Problem solved

Functional benefit

Products and services

• Property & Casualty Insurance Guaranty Coverage (PCIGC core offering) Statutory guaranty coverage for Maryland residents who are claimants or policyholders of insolvent property and casualty insurance companies. Subject to statutory limits and a $100 deductible, with mandatory membership of all licensed Maryland direct writers of property and casualty insurance.
• Insurance Claims Processing and Payment Services (incl. Paramount Insurance Company coverage) Processes valid policyholder claims incurred prior to policy termination and pays (subject to statutory limits) unearned premium claims, automobile accident claims that cannot be paid by another insurer, and provides legal defense of lawsuits against policyholders of insolvent insurers (e.g., Paramount Insurance Company).

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core and minor.

• District of Columbia Insurance Guaranty Association (DCIGA)coreStrategic or Co-development Partner · 9 January 2019DCIGA partners with PCIGC to provide coverage for Paramount Insurance Company claims. Both guaranty associations work together to pay covered claims to policyholders when insurers are declared insolvent. DCIGA covers District of Columbia policyholders while PCIGC covers Maryland residents. DCIGA is located at One Bowdoin Square, Boston, MA.
• Risk & Regulatory Consulting, LLC (RRC)coreOthers · 9 January 2019Risk & Regulatory Consulting, LLC serves as the Court-appointed Receiver for Paramount Insurance Company following the January 9, 2019 liquidation order. RRC transfers claim information to PCIGC and DCIGA to enable the guaranty associations to begin paying Paramount claims. Receiver contact: [email protected], (888) 616-0540.
• Guaranty Fund Management ServicesminorOthersGuaranty Fund Management Services handles claims administration for DCIGA, processing Paramount Insurance Company claims for District of Columbia policyholders at their Boston location.
• National Conference of Insurance Guaranty Funds (NCIGF)minorOthersPCIGC is a member of the National Conference of Insurance Guaranty Funds, an industry organization that supports state-based guaranty associations and promotes coordination on insolvency matters.
• National Association of Insurance Commissioners (NAIC)minorOthersPCIGC is affiliated with the NAIC, the national regulator support organization for state insurance departments, which helps coordinate insurance guaranty fund operations across states.
• Maryland Insurance AdministrationcoreOthersMaryland Insurance Administration is the state regulatory body that oversees insurance operations in Maryland. PCIGC was created by Maryland Legislature and operates under Maryland Insurance Code. MIA website links to PCIGC for consumer information about insurance insolvencies.

Scale indicators2 records

Recent moves5 records

Expansion highlights2 records

Direct peers

• Illinois Insurance Guaranty Fund: Illinois's state insurance guaranty fund handling P&C insurance insolvencies within the state. Performs the same statutory role as PCIGC under Illinois insurance law with assessment-based funding from member insurers.
• California Insurance Guarantee Association (CIGA): California's state insurance guaranty association for P&C coverage, providing the same function as PCIGC for insolvent California-licensed P&C insurers. Comparable in offering unearned premium refunds, claim payments, and legal defense subject to statutory limits.
• New York Property/Casualty Insurance Security Fund: New York's designated P&C insurance guaranty mechanism that pays covered claims of insolvent P&C insurers. Operates under an analogous statutory framework to PCIGC and serves a similar public-protection mission.
• Ohio Insurance Guaranty Association: Ohio's state insurance guaranty association that processes claims from insolvent P&C insurers. Comparable to PCIGC in mandate, statutory basis, and assessment-based funding from licensed Ohio insurers.
• Texas Property and Casualty Insurance Guaranty Association (TPCIGA): Texas's state P&C insurance guaranty association that pays covered claims of insolvent property and casualty insurers under the same statutory model as PCIGC. Highly comparable in mission, statutory backing, and assessment-based funding.
• District of Columbia Insurance Guaranty Association (DCIGA): DC's parallel state insurance guaranty association handling P&C insurance insolvencies in the District of Columbia. Direct peer under the same statutory insurance fund model and an existing partner of PCIGC for jointly administering Paramount Insurance claims.
• Pennsylvania Property & Casualty Insurance Guaranty Association: Pennsylvania's state P&C insurance guaranty association created under Pennsylvania statute. Directly comparable to PCIGC in paying covered claims, defending lawsuits against policyholders, and refunding unearned premiums for insolvent P&C insurers.
• Wisconsin Insurance Guaranty Association: Wisconsin's statutory insurance guaranty association handling claims of insolvent property and casualty insurers in the state. Directly comparable in mission and operation to PCIGC.
• Florida Insurance Guaranty Association (FIGA): One of the largest state-based P&C insurance guaranty associations in the U.S., performing the identical function as PCIGC — paying covered claims and defending policyholders when Florida-licensed P&C insurers fail. Directly comparable in statutory mission, funding model, and claims scope.

Others

• National Conference of Insurance Guaranty Funds (NCIGF): Industry association that supports state-based guaranty associations like PCIGC, promoting coordination on multi-state insolvencies. Not a competitive entity but the umbrella body of which PCIGC is a member, sharing best practices and institutional resources.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat2 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 Property & Casualty Insurance Guaranty