Insolvency Costs
The reports below are meant to help insurance companies estimate their potential guaranty association assessment accruals for specific companies. Please note that the report uses estimates and may exclude costs incurred directly by the state guaranty associations; actual assessments made by the guaranty associations may not correspond to the anticipated funding schedules in this report.
Each year’s report contains the files described on the right:
Workbook (Excel)
This Microsoft Excel workbook contains individual spreadsheets for all insolvencies, along with various summary schedules and assessable premium data.
Report (PDF)
This PDF contains all commentary and notes for the insolvency cost report. It includes general descriptions of categories, brief comments on individual insolvency cases, assessment and premium tax offset provisions, and premiums by state. It also includes the Insolvency Cost Workbook Excel file, thus creating one comprehensive report.
Insolvency Cost Reports
2024 Annual Update
Updated December 20, 2024
The latest Insolvency Cost files for all insolvencies are now posted below as the 2024 report. Similar to previous years, we are sharing two files; an excel workbook and PDF report.
The updated calculations for Bankers Life Insurance Company and Colorado Bankers Life Insurance Company are based on the GA coverage liabilities as of the liquidation date (11/30/24).
Global Bankers Insurance Group (North Carolina) November 2024 Interim Report
Updated October 4, 2024
The latest Insolvency Cost files for Bankers Life Insurance Company and Colorado Bankers Life Insurance Company are now posted. Please read the posted memo first, prior to reviewing the updated calculations.
The following items lend guidance to the establishment of accruals for potential guaranty association assessments. Contact the NAIC (naic.org) or AICPA (aicpa-cima.com) for copies.
- Statement of Statutory Accounting Principle No. 35 R – Revised Guaranty Fund and Other Assessments (finalized March 13, 2000, revised October 18, 2010, and March 2017). This supersedes SSAP No. 35.
- Statement of Statutory Accounting Principle No. 35 – Accounting for Guaranty Fund and Other Assessments (finalized March 2000 by the NAIC)
- Issue Paper No. 35 – Accounting for Guaranty Fund and Other Assessments (finalized December 1999 by the NAIC)
- Accounting Standards Codification 405-30, Insurance-Related Assessments, (ASC 405-30 July 2009) (previously known as SOP 97-3 – Accounting by Insurance and Other Enterprises for Guaranty Fund and Certain Other Insurance-Related Assessments (released December 1997 by the AICPA))
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