Workmen's Compensation Commission v. Property & Casualty Insurance Guaranty Corp.

POLLITT, Judge.

The Property and Casualty Insurance Guaranty Corporation (PCIGC) is a private, nonprofit, nonstock corporation created by the Legislature “to provide a mechanism for the prompt payment of covered claims under certain insurance *101policies and to avoid financial loss to residents of Maryland who are claimants or policyholders of an insurer, including surety, which has become insolvent....” Maryland Code (1957, 1986 Repl. Yol.), Art. 48A, § 504. All insurers writing any kind of direct insurance, except life insurance, health insurance and annuities, are required to be members of the…