What is the Georgia Insurance Guaranty Association?

The Georgia Insurance Guaranty Association (GIGA) is a non-profit organization created by state law to protect policyholders in the event of an insurance company's insolvency. GIGA acts as a safety net when an insurer becomes financially unstable or insolvent, ensuring that policyholders receive the benefits and coverage they are entitled to. If an insurer is declared insolvent and unable to meet its obligations, GIGA steps in to pay out policy claims, up to certain limits defined by state law. This includes various types of insurance policies such as life, health, property, and casualty insurance. As a safety net, GIGA provides peace of mind to Georgians, assuring them that their insurance claims will be addressed even if their insurer fails.