State mandated funds collected from licensed insurers and maintained as backup protection for policyholders of bankrupt insurers. When an insurer becomes insolvent, the state will pay claims for that insurer out of the guaranty fund.
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A fund mandated by state law. The fund is comprised of money from the insurers currently conducting business in that state, which is available to companies unable to cover debts or unpaid claims. These are sometimes called Insolvency Funds.
Insurance Encyclopedia
Guardian
Person appointed by the court who is designated to act on behalf of a minor or an incompetent adult such as parent, trustee, committee, conservator, or other person or agency. Also called legal guardian .
Guardianship
Court-appointed authority given to an individual to act on behalf of a minor or incompetent adult.
Guardianship of the estate
Situation in which a person appointed by the court has the authority over property only for a minor or incompetent adult.
Guardianship of the person
Court-appointed authority given to a person with the right to carry out tasks only concerning personal matters such as medical decisions and residential questions.
Guatemala City Protocol, 1971
Convention amended the Warsaw Convention and Hague Protocol in respect of passenger tickets and baggage checks and limit of liability. See Also:” Warsaw Convention.:” and “Hague Protocol.”