The Missouri Property & Casualty Insurance Guaranty Association is a non-profit legal entity created by the Missouri legislature to provide protection within limits, to Missouri resident insureds and/or claimants in the event of an insolvency of a member insurance company. To provide this protection, the Guaranty Association recognizes unpaid claims which arise out of and that is within the coverage of an insurance policy to which the guaranty association act applies, and which has been issued by a member insurer.
The information provided in this Web site is general in nature and may not address a specific policy or issue. The intent of this site is to provide information about the Missouri Property & Casualty Insurance Guaranty Association. The terms and coverage of insurance products are very diverse and, as a result, it is difficult to make general statements about Guaranty Association coverage without reviewing a specific contract.
The generalized information provided by this website should not be relied upon as legal advice. In addition, please refer to the “Missouri Property and Casualty Insurance Guaranty Association Act”, Revised Statutes of Missouri, Sections 375.771 to 375.779, for a more complete explanation of the powers and duties of the Guaranty Association.
The Missouri Property & Casualty Insurance Guaranty Association provides protection for “Covered Claims” as defined in the guaranty association act. There are limits and restrictions as to what constitutes a Covered Claim. The following list contains some of the more general limitations and maximum amounts of protection that is provided:
Maximum amount for any one covered claim – $300,000, except workers’ compensation claims which are not limited.
There is no coverage for any amount that has been awarded as punitive or exemplary damages.
The protection of the guaranty association shall apply to all kinds of direct insurance, except life, accident and sickness, title, surety, disability, credit, mortgage guaranty, ocean marine insurance, and assessment insurance written under the provision of Chapter 383, Revised Statutes of Missouri.
Claims by or against and insured that has net worth of more than twenty-five million ($25,000,000) on the date that their insurer became insolvent will not be considered covered claims.
In general, protection is offered to insureds that are residents of this state; for any first party claims for property damage on property that is permanently located in Missouri, and for workers’ compensation claims, if the claimant was a resident of this state at the time of their reported injured.