Minnesota Insurance Guaranty Association
The Minnesota Insurance Guaranty Association (MIGA) is a nonprofit statutory entity established in 1971, dedicated to supporting policyholders and claimants in the event of an insolvency of a property and casualty insurance company within the state. Composed of most licensed insurance companies in Minnesota, MIGA is governed by Minnesota Statutes section 60C.
MIGA steps in to provide protection to Minnesota-based policyholders and claimants when a member insurer is declared insolvent and ordered to be liquidated by the court. This protection is activated only after an official order of insolvency is filed, ensuring that affected individuals receive coverage within the limits specified by state law.
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