2024-05-13T10:08:37-05:00 2023-12-31 640897081 MATTHEWS CUTRER & LINDSAY PA 1020 HIGHLAND COLONY PKWY 500 RIDGELAND MS 39157 990 2023-01-01 237366411 MISSISSIPPI INSURANCE GUARANTY ASSOCIATION FOUNDATION MISS 6019570072 713 SOUTH PEAR ORCHARD RD 200 RIDGELAND MS 39157 ARTHUR RUSSELL EXECUTIVE DIRECTOR 6019570072 2024-05-09 1 ARTHUR RUSSELL 999009999 1 CHRIS B SAVELL CPA P00939509 6018988875 2024-05-09 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z ARTHUR RUSSELL 713 S PEAR ORCHARD RD SUITE 200 RIDGELAND MS 39157 35260772 0 X WWW.MS-MIGA.COM X 1970 MS MANAGE IN A PROFESSIONAL AND TIMELY MANNER THE PROPERTY-CASUALTY INSOLVENCIES FOR WHICH MIGA IS RESPONSIBLE BY DISCHARGING ASSOCIATION DUTIES IN ACCORDANCE WITH GOVERNING STATUTES AND PLAN OF OPERATING PROVISIONS. 12 12 7 0 0 0 0 0 0 0 2554741 1420269 2308843 1270769 4863584 2691038 0 0 0 0 0 0 0 0 0 -2377967 -8362360 -2377967 -8362360 7241551 11053398 109515379 110291450 81020457 67266807 28494922 43024643 X OUR MISSION IS TO MANAGE IN A PROFESSIONAL AND TIMELY MANNER THE PROPERTY-CASUALTY INSOLVENCIES FOR WHICH MIGA IS RESPONSIBLE BY DISCHARGING ASSOCIATION DUTIES IN ACCORDANCE WITH GOVERNING STATUTES AND PLAN OF OPERATING PROVISIONS. 0 0 THE MISSISSIPPI INSURANCE GUARANTY ASSOCIATION IS A NON-PROFIT ENTITY AUTHORIZED UNDER THE MISSISSIPPI INSURANCE GUARANTY ASSOCIATION LAW AS OF APRIL 6, 1970. THE ASSOCIATION PROVIDES A MECHANISM FOR THE PAYMENT OF COVERED CLAIMS UNDER CERTAIN INSURANCE POLICIES TO AVOID EXCESSIVE DELAY IN PAYMENT AND AVOID FINANCIAL LOSS TO CLAIMANTS OR POLICYHOLDERS BECAUSE OF THE INSOLVENCY OF AN INSURER. THE ACT REQUIRES ALL INSURERS WHO WRITE DIRECT INSURANCE EXCEPT LIFE, TITLE, SURETY, DISABILITY, CREDIT, MORTGAGE GUARANTY, AND OCEAN MARINE INSURANCE TO BE MEMBERS OF THE ASSOCIATION AS A CONDITION OF THEIR AUTHORITY TO TRANSACT INSURANCE BUSINESS IN MISSISSIPPI.THE ACT GRANTS THE ASSOCIATION THE POWERS TO ASSESS INSURERS AMOUNTS NECESSARY TO PAY CLAIMS AND OTHER EXPENSES OF THE ASSOCIATION. THE ASSESSMENT OF EACH MEMBER INSURER IS IN THE PROPORTION THAT THE NET DIRECT WRITTEN PREMIUMS FOR THE MEMBER INSURER FOR THE PRECEDING CALENDER YEAR BEARS TO THE NET DIRECT WRITTEN PREMIUMS OF ALL MEMBER INSURERS FOR THE PRECEDING CALENDER YEAR. THE ASSESSMENT FOR ANY YEAR IS LIMITED TO ONE PERCENT OF THAT MEMBER'S DIRECT WRITTEN PREMIUMS FOR THE PRECEEDING CALENDER YEAR.RECOVERIES, IF ANY, FROM THE RECEIVER OR LIQUIDATOR OF INSOLVENT INSURERS ARE TO BE REFUNDED TO THE MEMBER INSURERS IN PROPORTION TO THE CONTRIBUTIONS OF EACH MEMBER INSURER TO THE ASSOCIATION. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 158 0 7 1 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 1 1 1 0 X RHONDA POWELL 6019570072 713 SOUTH PEAR ORCHARD ROAD SUITE RIDGELAND MS 39157 BECKY HILLHOUSE AMFED NATIONAL INSU CLAIM COMM 3.00 X 0 0 0 BRYAN HUBBARD ALFA INSURANCE CO SECRETARY/EXEC COMM 3.00 X X 0 0 0 CAREY BREEDLOVE TRAVELERS INS CO INVESTMENT COMM 3.00 X 0 0 0 JEFFREY CARVER BERKLEY SOUTHEAST GR PERSONNEL COMM 3.00 X 0 0 0 JIM ROWLES MS FARM BUREAU VICE CHAIRMAN/EXECUTIVE CO 3.00 X X 0 0 0 LISA PIERCE ALLSTATE INSURANCE CO TREASURER/LEGISLATIVE COMM 3.00 X X 0 0 0 LISA WATSON EMC CLAIM COMM 3.00 X 0 0 0 MATT WILSON TRAVELERS INS CO CLAIM COMM 3.00 X 0 0 0 MIKE RICHARDSON AMFED NAT'L INS CO CHAIRMAN/EXECUTIVE COMM 3.00 X X 0 0 0 RAY WAUGH NATIONWIDE INSURANCE CO LEGISLATIVE COMM 3.00 X 0 0 0 RON PAYNE STATE FARM INSURANCE CO LEGISLATIVE COMM 3.00 X 0 0 0 TIFFANY HAWKINS FCCI INSURANCE GROU INVESTMENT COMM-CHAIR 3.00 X 0 0 0 ARTHUR RUSSELL EXECUTIVE DIRECTOR 40.00 X 152922 0 0 152922 0 0 1 0 1 0 0 2715048 2715048 31274955 32569734 -1294779 -1294779 -1294779 RECOVERIES 524298 1270769 1270769 1270769 2691038 2691038 0 0 162549 5073 CLAIMS LOSSES 3360042 CLAIMS EXPENSES 1799844 CHANGE IN ESTIMATED CLA -13689868 -8362360 334752 331904 296048 276535 24586 19513 108648729 109266986 507312 673047 109515379 110291450 81020457 67266807 81020457 67266807 X 28494922 43024643 28494922 43024643 109515379 110291450 11053398 3476323 0 X 0 1 X 0 0 296048 276535 19513 19513 CLAIMS RESERVES 66366900 PENSION LIABILITY 73731 POST RETIREMENT BENEFIT OBLIGATION 826176 67266807 6004812 3476323 3476323 2528489 162549 162549 2691038 -8524909 0 -8524909 162549 162549 -8362360 X 0 0 0 ARTHUR RUSSELL EXECUTIVE DIRECTOR 152922 0 0 0 0 0 0 0 0 0 152922 0 0 0 PART I, LINE 3 THE ORGANIZATION HAS A COMPENSATION COMMITTEE THAT APPROVES EMPLOYEE COMPENSATION. FORM 990, PART VI, SECTION A, LINE 8B COMMITTEES DO NOT HAVE THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING FOR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS, DIRECTORS, AND KEY EMPLOYEES DISCLOSE ANNUALLY ANY INTEREST WHICH MIGHT GIVE RISE TO CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 THE INDEPENDENT BOARD OF DIRECTORS DETERMINES THE SALARIES FOR THE EXECUTIVE DIRECTOR AND KEY EMPLOYEES FORM 990, PART VI, SECTION C, LINE 19 THE ASSOCIATION MAKES ITS GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.