2024-11-15T12:48:44-07:00 2023-12-31 990 2023-01-01 510188685 RHODE ISLAND PROPERTY & CASUALTY INSURANCE GUARANTY ASSOCIATION RHOD 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 14364725 0 X www.gfms.org X 1971 MA During the year the Association paid covered claims on behalf of insolvent insurers in accordance with the Rhode Island state statute, the Rhode Island Property & Casualty Insurance Guaranty Association Act (the "Act"), R.I.G.L. s. 27-34, et seq. 8 8 0 0 0 0 0 0 494442 1467740 -100779 -2981 0 0 393663 1464759 0 0 2631847 3084809 0 0 0 0 0 325719 425785 2957566 3510594 -2563903 -2045835 17647758 15601923 0 0 17647758 15601923 During the year the Association paid covered claims on behalf of insolvent insurers in accordance with the Rhode Island state statute, the Rhode Island Property & Casualty Insurance Guaranty Association Act (the "Act"), R.I.G.L. s. 27-34, et seq. 0 0 3084809 0 0 During the year the Association paid covered claims on behalf of insolvent insurers in accordance with the Rhode Island state statute, the Rhode Island Property & Casualty Insurance Guaranty Association Act (the "Act"), R.I.G.L. s. 27-34, et seq. 0 0 0 3084809 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 13 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 Earl Cottam Chair representing Providence Mutual Fire Ins. Co. 1 0 X 0 0 0 Jennifer Morrison Vice Board representing Amica Mutual Insurance Company 1 0 X 0 0 0 Donald Baldini Board Member representing Liberty Mutual Insurance Company 1 0 X 0 0 0 William Cahill Board Member representing Vermont Mutual Insurance Co. 1 0 X 0 0 0 Laurie G Kuiper Board Member representing Nationwide Mutual Insurance Co. 1 0 X 0 0 0 Adam Robitaille Board Member representing Farmers Prop. & Cas. Ins. Co. 1 0 X 0 0 0 Jay Swiatek Board Member representing Factory Mutual Insurance Company 1 0 X 0 0 0 Joseph Torti Board Member representing United States Fire Insurance Co 1 0 X 0 0 0 0 0 0 0 0 0 0 0 0 Member Assessment 524298 1328945 1328945 0 0 Recovery 524298 138795 138795 0 0 0 0 0 0 1467740 423407 423407 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 12473578 0 12899966 0 -426388 0 -426388 -426388 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1464759 1464759 0 0 0 0 0 3084809 0 0 0 0 0 0 299507 1400 9150 0 0 0 0 0 0 0 0 0 6716 0 0 0 0 0 4983 NCIGF Fee 47422 Administrative Expense 48956 7651 3510594 0 0 0 1497999 2206176 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 16149759 13395747 0 0 0 0 0 0 0 0 17647758 15601923 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 0 0 0 0 17647758 15601923 17647758 15601923 17647758 15601923 -2045835 0 0 0 0 0 X 0 1 X 1 0 0 1 0 1458793 0 0 0 0 0 1458793 0 5966 5966 1464759 3504628 0 0 0 0 0 3504628 0 5966 5966 3510594 Schedule D, Part XI, Line 4b The Rhode Island Property & Casualty Insurance Guaranty Association 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. Schedule D, Part XII, Line 4b The Rhode Island Property & Casualty Insurance Guaranty Association 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 Rhode Island Property & Casualty Insurance Guaranty Association'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 Rhode Island Property & Casualty Insurance Guaranty Association's members are licensed Property & Casualty Insurance Companies which write insurance covered under the Rhode Island Property & Casualty Insurance Guaranty Association 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 Rhode Island Property & Casualty Insurance Guaranty Association. 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 Rhode Island Property & Casualty Insurance Guaranty Association is subject to GFMS' whistleblower policy. Form 990, Part VI, Section B, Line 14 As a member of Guaranty Fund Management Services, Inc., the Rhode Island Property & Casualty Insurance Guaranty Association is subject to GFMS' document retention and destruction policy. Form 990, Part VI, Section B, Line 15 The Rhode Island Property & Casualty Insurance Guaranty Association 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 Rhode Island Property & Casualty Insurance Guaranty Association is mailed to all of its members and the Commissioner of Insurance. The Financial Statements and the Plan of Operation of the Rhode Island Property & Casualty Insurance Guaranty Association are on GFMS' website. extension filed