About Us
Protecting Wisconsin policyholders since 1969.
Learning that your insurance company is in trouble can be unsettling. The Wisconsin Insurance Security Fund is part of a system protecting you and your family.
The Security Fund’s Origin Story
In 1969, the Wisconsin legislature created our nation’s first comprehensive guaranty association, the Wisconsin Insurance Security Fund. This law inspired and became the model for the National Association of Insurance Commissioners to expand to all 50 states and the District of Columbia. However, Wisconsin is unique. As a unified organization, the Security Fund provides protection for covered lines of insurance: property & casualty liability, health, life, long-term care, and HMO’s.
Fund Governance
We were created under Chapter 646 of Wisconsin State Statutes, and operate as a 501(c)(6) non-profit, tax-exempt organization. We are governed by a 14-member board of directors comprised of the State of Wisconsin’s Insurance Commissioner, Attorney General, and Treasurer with up to 11 insurer representatives appointed by the Insurance Commission. The board meets three times a year.
The Security Fund files an Annual Report with the State of Wisconsin’s Office of the Commissioner of Insurance.
How We Work
The Security Fund collaborates with other state’s guaranty associations through two national organizations: National Conference of Insurance Guaranty Funds (property casualty guaranty funds) and National Organization of Life and Health Guaranty Associations (life and health guaranty associations). This helps us better prepare for an insolvency and reduce administrative expenses to better serve policyholders affected by an insurer insolvency.
We know terms and coverage of insurance products are diverse, and specific to individual signed contracts. And because of that, each insolvency has its own parameters and timelines. Our team of experts works with regulators, liquidators and service providers to ensure timely benefit payments and continuation of policies.
$359M+
$359M+ in benefits paid to Wisconsin policyholders and claimants.
Tens of thousands
of life, annuity and disability policies continued for Wisconsin consumers.
The Wisconsin Insurance Security Fund is a member of these national coordinating organizations.
