2024-11-15T09:15:35-07:00 2023-12-31 990 2023-01-01 237304306 MASSACHUSETTS INSURERS INSOLVENCY FUND MASS 6172277020 One Bowdoin Square Second Floor Boston MA 021142916 Heather Holland Treasurer 6176034775 2024-11-15 1 2023 2024-10-15 13:58:12Z Barbara Petersen Law One Bowdoin Square Second Floor Boston MA 021142916 139177064 0 X www.gfms.org X 1973 MA During the year the Association paid covered claims on behalf of insolvent insurers in accordance with the Massachusetts state statute, Chapter 1 75 D, G. L. Mass., enacted as Chapter 261, Laws 1970. 8 8 0 0 0 0 0 0 921234 2149405 -17241 1939546 0 0 903993 4088951 0 0 8449643 8117294 0 0 0 0 0 2528320 3145378 10977963 11262672 -10073970 -7173721 210593946 203420225 0 0 210593946 203420225 During the year the Association paid covered claims on behalf of insolvent insurers in accordance with the Massachusetts state statute, Chapter 1 75 D, G. L. Mass., enacted as Chapter 261, Laws 1970. 0 0 8117294 0 0 During the year the Association paid covered claims on behalf of insolvent insurers in accordance with the Massachusetts state statute, Chapter 1 75 D, G. L. Mass., enacted as Chapter 261, Laws 1970. 0 0 0 8117294 0 0 0 1 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 0 0 0 0 0 0 0 0 0 0 0 0 0 1 54 0 1 0 0 0 0 0 0 0 0 0 X 8 8 0 1 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 X Heather Holland 6172277020 One Bowdoin Square Second Floor Boston MA 021142916 Donald Baldini Chair representing Liberty Mutual Insurance Co. 1 0 X 0 0 0 Chris Whitford Vice Chair representing Safety Insurance Company 1 0 X 0 0 0 Harris E Berenson Board Member representing The Hanover Insurance Group 1 0 X 0 0 0 Eileen Fongemie Board Member representing MEMIC Indemnity Company 1 0 X 0 0 0 Samantha Freedman Board Member representing Government Employees Ins Co 1 0 X 0 0 0 Chris Hall Board Member representing Arbella Mutual Insurance Company 1 0 X 0 0 0 Adam Robitaille Board Member representing Farmers Prop. & Cas. Ins. Co. 1 0 X 0 0 0 Kevin Walsh Board Member representing The Travelers Indemnity Co. 1 0 X 0 0 0 0 0 0 0 0 0 0 Tmesys LLC PO Box 850001 Dept 0559 Orlando FL 328850559 Rx Drug Service 747985 McCarthy Kenney & Reidy PC 101 Merrimac Street Boston MA 02114 Legal 160574 Gemma Law Associates Inc 231 Reservoir Ave Providence RI 02907 Legal 105000 3 0 Recovery 524298 2039041 2039041 0 0 Member Assessment Administrative 524298 110364 110364 0 0 0 0 0 0 2149405 5936649 5936649 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 131091010 0 135088113 0 -3997103 0 -3997103 -3997103 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4088951 4088951 0 0 0 0 0 8117294 0 0 0 0 0 0 2739388 132739 47050 34090 0 0 0 0 0 0 0 0 5357 0 0 0 0 0 7114 NCIGF Fee 130685 48955 11262672 0 0 0 5189642 5327406 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 205404304 198092819 0 0 0 0 0 0 0 0 210593946 203420225 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 0 0 0 0 210593946 203420225 210593946 203420225 210593946 203420225 -7173721 0 0 0 0 0 X 0 1 X 1 0 0 0 0 0 92908 0 92908 0 92908 4088951 0 0 0 0 0 4088951 0 0 0 4088951 11262671 0 0 0 0 0 11262671 0 1 1 11262672 Schedule D, Part XII, Line 4b The Massachusetts Insurers Insolvency Fund has audited financial statements under the Modified-Cash Basis of accounting. The amount under other reflects the net adjustments to convert the financial statements from Modified-Cash Basis of accounting to the Cash Basis of accounting. Form 990, Part VI, Section A, Line 3 The Massachusetts Insurers Insolvency Fund's management duties are provided by Guaranty Fund Management Services, Inc. (GFMS), a 501(c)(6) organization to provide claims, administration, accounting, and management functions for eight Property & Casualty Insurance Guaranty Associations. Form 990, Part VI, Section A, Line 6 The Massachusetts Insurers Insolvency Fund's members are licensed Property & Casualty Insurance Companies which write insurance covered under the Massachusetts Insurers Insolvency Fund Act. Form 990, Part VI, Section A, Line 7a The members of the governing body, the board of directors, are elected by the Insurance Companies that are members of the Massachusetts Insurers Insolvency Fund. Form 990, Part VI, Section A, Line 7b For changes to the "Plan of Operation." Form 990, Part VI, Section B, Line 11b The Accountant prepares the return. It is reviewed by the Treasurer & VP of Accounting and Finance and the Audit Committee. Outside Tax Professionals are consulted as needed. Form 990, Part VI, Section B, Line 12c Form is filled out on an annual basis. If a conflict is noted, it is reviewed by the Board of Directors and outside legal counsel as needed. Form 990, Part VI, Section B, Line 13 As a member of Guaranty Fund Management Services, Inc., the Massachusetts Insurers Insolvency Fund is subject to GFMS' whistleblower policy. Form 990, Part VI, Section B, Line 14 As a member of Guaranty Fund Management Services, Inc., the Massachusetts Insurers Insolvency Fund is subject to GFMS' document retention and destruction policy. Form 990, Part VI, Section B, Line 15 The Massachusetts Insurers Insolvency Fund does not have employees. Claims, administration, accounting, and management functions are provided by GFMS under a contractual agreement. Form 990, Part VI, Section C, Line 19 The annual report of the Massachusetts Insurers Insolvency Fund is mailed to all of its members and the Commissioner of Insurance. The Financial Statements and the Plan of Operation of the Massachusetts Insurers Insolvency Fund are on GFMS' website. extension filed