Answered

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All of the following are true regarding the Life and Health Insurance Guaranty Association EXCEPT:

A. The Association is designed to detect and prevent insurer insolvencies.
B. All authorized insurers must participate.
C. Claims are paid without limit.
D. The Association is designed to pay the claims of insolvent insurers.

Sagot :

GinnyAnsweridn

Final answer:

The Life and Health Insurance Guaranty Association is designed to pay claims of insolvent insurers and all authorized insurers must participate, with claims subject to specific limits.


Explanation:

The Life and Health Insurance Guaranty Association's purpose is primarily to pay the claims of insolvent insurers, not to prevent insolvencies. The Association is a safety net established in many states to protect policyholders in case an insurance company becomes insolvent. All authorized insurers are required to participate in the Association, ensuring that policyholders are covered. Claims are typically subject to limits outlined by the Association, such as monetary payment limits and deductibles.


Learn more about Insurance Guaranty Association here:

https://brainly.com/question/32332287


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