Which organization was established to provide funds to protect an insured in the event of an insurer's insolvency?

The Georgia Life and Health Insurance Guaranty Association was established specifically to protect policyholders in Georgia in the event that their insurance company becomes insolvent. This organization helps ensure that individuals who have life and health insurance policies are safeguarded from losing their benefits due to the financial failure of their insurer.

When an insurance company faces insolvency, it can lead to significant distress for policyholders who might rely on their insurance coverage for health care, life support, or other crucial needs. The Guaranty Association steps in to facilitate the payment of claims and to provide a safety net for policyholders.

This organization is part of a broader network of state guaranty associations across the United States, each serving similar protective functions tailored to their respective state regulations and insurance markets. The focus here is on life and health insurance specifically, demonstrating its critical role in maintaining consumer confidence in the insurance system within Georgia.

The other options mentioned do not accurately represent an organization focused on protecting insured individuals against insurer insolvency. The Insurance Guarantee Fund is a general term and may refer to various funds, while the National Insurance Association and the Federal Insurance Protection Agency do not exist with the protective aim described in the context of state insurance insolvency. Thus, the Georgia Life and Health