The purpose of this article is to provide a mechanism for the payment of covered claims under certain insurance policies to avoid excessive delay in payment and to the extent provided in this article, minimize financial loss to claimants or policyholders because of the insolvency of an insurer, and to permit and to provide an association to assess the cost of this protection among insurers.

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Terms Used In West Virginia Code 33-26-2

  • Association: means the West Virginia Insurance Guaranty Association created under section six of this article. See West Virginia Code 33-26-5