2025-11-17T08:51:01-06:00 2024-12-31 630590670 KASSOUF & CO INC 2101 HIGHLAND AVE S SUITE 300 BIRMINGHAM AL 352054009 990 2024-01-01 630810507 ALABAMA INSURANCE GUARANTY ASSOCIATION ALAB 2058234042 600 UNIVERSITY PARK PLACE 260 BIRMINGHAM AL 352096733 ANDREA LENTINE EXECUTIVE DIRECTOR 2058234042 2025-11-13 1 0 MICHAEL KASSOUF P01328519 2054432500 2025-11-13 2024 2025-03-06 01:10:19Z ANDREA LENTINE 600 UNIVERSITY PARK PLACE 260 BIRMINGHAM AL 352096733 10012970 0 X HTTPS://ALAIGA.COM X 1980 AL THE PURPOSE OF THE ASSOCIATION IS TO PROVIDE A MECHANISM FOR THE PAYMENT OF COVERED CLAIMS UNDER CERTAIN INSURANCE POLICIES, TO AVOID EXCESSIVE DELAY IN PAYMENT AND TO AVOID FINANCIAL LOSS TO CLAIMANTS OR POLICYHOLDERS BECAUSE OF THE INSOLVENCY OF AN INSURER, TO ASSIST IN THE DETECTION AND PREVENTION OF INSURER INSOLVENCIES, AND TO PROVIDE AN ASSOCIATION TO ALLOCATE THE COST OF SUCH PROTECTION AMONG INSURERS. THE ASSOCIATION HAS ACTED IN THIS CAPACITY SINCE ITS INCEPTION. 7 7 9 0 0 0 0 0 0 0 3741502 4313509 2545205 5038091 6286707 9351600 0 0 0 0 1441301 1411134 0 0 0 7505311 6199007 8946612 7610141 -2659905 1741459 156559261 160157429 141789251 136204279 14770010 23953150 X SEE SCHEDULE O 0 0 SEE SCHEDULE O 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 1 182 0 1 9 1 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 0 0 1 1 0 0 1 1 1 1 0 1 1 1 0 X KASSOUF & CO INC 2054432500 2101 HIGHLAND AVENUE S STE 300 BIRMINGHAM AL 35205 ALFA BRYAN HUBBARD DIRECTOR, SEE SCHEDULE O 2.00 X X 0 0 0 CHUBB NA JENNY ANZALONE-ACKLEY DIRECTOR, SEE SCHEDULE O 1.00 X X 0 0 0 STATE FARM ERIC HARTILL DIRECTOR, SEE SCHEDULE O 1.00 X 0 0 0 ALLSTATE MIKE BORYSEK DIRECTOR, SEE SCHEDULE O 1.00 X 0 0 0 BERKLEY INDUSTRIAL GREG PIERRE DIRECTOR, SEE SCHEDULE O 1.00 X 0 0 0 TRAVELERS DAVID DOVE DIRECTOR, SEE SCHEDULE O 1.00 X 0 0 0 NATIONWIDE JACOB SCHMIDT DIRECTOR, SEE SCHEDULE O 1.00 X 0 0 0 ANDREA LENTINE EXECUTIVE DIRECTOR 40.00 X 215498 0 32322 TORREY CRENSHAW CLAIMS MANAGER 40.00 X 111252 0 32358 326750 0 64680 2 0 1 0 CORPORATE PHARMACY SERVICES PO BOX 1950 GADSDEN AL 35902 RX CLAIMS 791597 AFFINITY HOSPITAL LLC 3690 GRANDVIEW PARKWAY BIRMINGHAM AL 35243 MEDICAL SERVICES 327392 REMED RECOVERY CARE CENTRS OF LOUISIANA 16 INDUSTRIAL BLVD STE 203 PAOLI PA 19301 MEDICAL SERVICES 278508 CARLISLE MEDICAL INC 501 BOULEVARD PARK EAST MOBILE AL 36941 MEDICAL SERVICES 237487 MENTOR ABI LLC 6600 FRANCE AVE S MINNEAPOLIS MN 55435 MEDICAL SERVICES 201396 5 4974879 4974879 661370 -661370 -661370 -661370 DISTRIBUTION OF ASSETS 524298 3216449 3216449 EARLY ASSET DISTRIBUTIONS 524298 1773220 1773220 CLAIM RECOVERIES 524298 41650 41650 6772 6772 5038091 9351600 9351600 0 0 376267 714655 37679 217373 65160 34381 21350 148197 92535 26766 116745 193515 20241 11870 11472 27053 CLAIMS PAID 4947345 DIRECT - OTHER SERVICES 220558 CLAIMS EXPENSES 158008 ASSOCIATION DUES 109050 59921 7610141 15838846 17934829 140680180 142182118 278331 251845 26239 26486 13996 13996 156559261 160157429 141789251 136204279 141789251 136204279 X 14770010 23953150 14770010 23953150 156559261 160157429 X 1741459 1856709 5584972 X X 0 1 X 1 0 278331 251845 26486 26486 CLAIM LIABILITIES 136204279 136204279 11208309 1856709 1856709 9351600 0 9351600 7610141 0 7610141 0 7610141 PART X, LINE 2 THE ASSOCIATION IS EXEMPT FROM FEDERAL AND STATE TAXES UNDER EXISTING PROVISIONS OF THE INTERNAL REVENUE CODE SECTION 501(C)(6) AND THE STATE OF ALABAMA CODE. THE ASSOCIATION FILES ITS FEDERAL FORM 990 TAX RETURN WHICH IS SUBJECT TO EXAMINATION BY THE RELEVANT TAX AUTHORITY UNTIL THE EXPIRATION OF THE APPLICABLE STATUTE OF LIMITATIONS, GENERALLY THREE YEARS AFTER THE FILING OF THE RETURN. IT IS DIFFICULT TO ANTICIPATE THE TIMING AND RESOLUTION OF ANY PARTICULAR UNCERTAIN TAX POSITION BASED ON THE ASSOCIATION'S ASSESSMENT OF PAST EXPIERENCE AND INTRICATE EVALUATION OF FUTURE EVENTS. THE ASSOCIATION DOES NOT CURRENTLY ANTICIPATE SIGNIFICANT CHANGES IN ITS TAX POSITIONS OVER THE NEXT 12 MONTHS. X X X X 0 0 0 ANDREA LENTINE EXECUTIVE DIRECTOR 215498 0 0 0 0 0 9900 0 22422 0 247820 0 0 0 FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION MISSION OR ACTIVITIES THE ALABAMA INSURANCE GUARANTY ACT MANDATED THE CREATION OF THE ALABAMA INSURANCE GUARANTY ASSOCIATION TO SERVE AS AN AGENT OF THE STATE OF ALABAMA. THE PURPOSE OF THE ASSOCIATION IS TO PROVIDE A MECHANISM FOR THE PAYMENT OF COVERED CLAIMS UNDER CERTAIN INSURANCE POLICIES, TO AVOID EXCESSIVE DELAY IN PAYMENT AND TO AVOID FINANCIAL LOSS TO CLAIMANTS OR POLICYHOLDERS BECAUSE OF THE INSOLVENCY OF AN INSURER, TO ASSIST IN THE DETECTION AND PREVENTION OF INSURER INSOLVENCIES, AND TO PROVIDE AN ASSOCIATION TO ALLOCATE THE COST OF SUCH PROTECTION AMONG INSURERS. THE ASSOCIATION HAS ACTED IN THIS CAPACITY SINCE ITS INCEPTION. FORM 990, PART III, LINE 4A, PROGRAM SERVICE ACCOMPLISHMENTS: ALABAMA INSURANCE GUARANTY ASSOCIATION HAS MAINTAINED THE BOOKS AND RECORDS OR ADMINISTERED CLAIMS, OR BOTH, FOR 51 INSOLVENCIES IN 2024. AS REQUIRED BY THE STATE OF ALABAMA STATUTE, THE BOOKS AND RECORDS OF EACH INSOLVENCY ARE MAINTAINED IN THREE SEPARATE ACCOUNTS: AUTO, WORKERS COMPENSATION AND OTHER. DURING THE YEAR, THE ASSOCIATION: 1. PAID OTHER PREMIUM REFUNDS OF $3,623 2. PAID WORKERS COMPENSATION CLAIMS OF $4,804,860 3. PAID OTHER CLAIMS OF $142,485 4. INCURRED DIRECT EXPENSES OF ADMINISTERING THE CLAIMS OF $158,008 5. INCURRED LEGAL FEES ASSOCIATED WITH CLAIMS MANAGEMENT OF $54,155 6. INCURRED ADMINISTRATIVE EXPENSES OF $2,447,010 TO MAINTAIN ITS OFFICES,SUPPORT THE NATIONAL TRADE ASSOCIATION WHO ADMINISTERS CERTAIN INSOLVENCIES AND COMPENSATE EMPLOYEES, MOST OF WHOM ADMINISTER CLAIMS. FORM 990, PART VI, SECTION A, LINE 6 THE ASSOCIATION'S MEMBERSHIP IS COMPRISED OF ALL INSURANCE COMPANIES THAT ARE LICENSED TO WRITE WORKERS' COMPENSATION, AUTOMOBILE, OTHER PROPERTY AND CASUALTY INSURANCE WITHIN THE STATE OF ALABAMA. FORM 990, PART VI, SECTION B, LINE 11B THE GOVERNING BODY IS PROVIDED A DRAFT OF THE FORM 990 FOR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS ANNUALLY SIGNS THE CONFLICT OF INTEREST STATEMENT FOLLOWING DISCUSSION WITH THE EXECUTIVE COMMITTEE TO IDENTIFY ANY POTENTIAL CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE ASSOCIATION OBTAINS CURRENT COMPENSATION INFORMATION BY SURVEY CONDUCTED BY A CONSULTANT PERIODICALLY OR OTHER MEANS OF DATA COLLECTION FOR EACH EMPLOYEE CLASSIFICATION. THE COMPENSATION INFORMATION IS PROVIDED TO THE BOARD OF DIRECTORS FOR DELIBERATION AND FINAL APPROVAL AS TO EACH EMPLOYEE'S ANNUAL COMPENSATION AMOUNT. FORM 990, PART VI, SECTION C, LINE 19 THE ASSOCIATION WILL: (1) MAKE ITS APPLICATION FOR THE RECOGNITION OF EXEMPTION AND ITS ANNUAL INFORMATION RETURNS AVAILABLE FOR PUBLIC INSPECTION WITHOUT CHARGE AT ITS PRINCIPAL OFFICES DURING REGULAR BUSINESS HOURS, (2) MAKE EACH ANNUAL INFORMATION RETURN AVAILABLE FOR A PERIOD OF 3 YEARS BEGINNING ON THE DATE THE RETURN IS REQUIRED TO BE FILED (DETERMINED WITH REGARD TO ANY EXTENSION OF TIME FOR FILING) OR IS ACTUALLY FILED, WHICHEVER IS LATER, (3) PROVIDE A COPY WITHOUT CHARGE, OTHER THAN A REASONABLE FEE FOR REPRODUCTION AND ACTUAL POSTAGE COSTS, OF ALL OR ANY PART OF ANY APPLICATION OR RETURN REQUIRED TO BE MADE AVAILABLE FOR PUBLIC INSPECTION TO ANY INDIVIDUAL WHO MAKES A REQUEST FOR SUCH COPY IN PERSON OR IN WRITING (EXCEPT AS PROVIDED IN REGULATIONS SECTIONS 301.6104(D)-2 AND -3), OR (4) MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS PUBLIC DURING THE YEAR UPON REQUEST AS INDICATED ABOVE. FORM 990, PART XI, LINE 9: (INCR) DECR IN CLAIMS LIABILITIES 5,584,972. FORM 990, PART XII, LINE 1, ACCOUNTING METHOD USED TO PREPARE FORM 990: ALABAMA INSURANCE GUARANTY ASSOCIATION USES THE MODIFIED CASH METHOD OF ACCOUNTING. FORM 990, PART XII, LINE 2C, SELECTION OF AN INDEPENDENT ACCOUNTANT: THE ASSOCIATION'S BOARD OF DIRECTORS APPROVED THE SELECTION OF THE INDEPENDENT ACCOUNTANT AND VOTES ON THE ACCEPTANCE OF THE ASSOCIATION'S AUDITED FINANCIAL STATEMENTS ANNUALLY. FORM 990, PART VII CONTACT ADDRESSES FOR OFFICERS, DIRECTORS, ETC: ALFA, BRYAN HUBBARD CHAIRMAN 01/01-12/31/24 PO BOX 11000, MONTGOMERY, AL 36191 CHUBB NA, JENNY ANZALONE-ACKLEY VICE-CHARIMAN 01/01-12/31/24 436 WALNUT STREET, PHILADELPHIA, PA 19106 NATIONWIDE, JACOB SCHMIDT DIRECTOR 01/01-12/31/24 5390 CHESTNUT DRIVE, CUMMING, GA 30040 STATE FARM, ERIC HARTILL DIRECTOR 01/01-12/31/24 100 STATE FARM PARKWAY, BIRMINGHAM, AL 35209 ALLSTATE, MIKE BORYSEK DIRECTOR 01/01-12/31/24 222 W MERCHANDISE MART PLAZA, STE 850, CHICAGO, IL 60654 BERKLEY INDUSTRIAL COMP, GREG PIERRE DIRECTOR 01/01-12/31/24 ONE METROPLEX DRIVE, STE 500, BIRMINGHAM, AL 35209 TRAVELERS, DAVID DOVE DIRECTOR 01/01-12/31/24 2 CHASE CORPORATE DR, STE 130, BIRMINGHAM, AL 35244