USVI| Bulletin 2026-04 announces that, effective with Act No. 9100 signed May 29, 2026, the Virgin Islands has increased the required balance of the Virgin Islands Insurance Guaranty Fund from 50 million to 55 million and raised the maximum amount payable to a policyholder or claimant in an insurer insolvency from 50,000 less a 50 statutory deductible to 75,000 less the same 50 deductible, with these higher limits applying only to future claims. The Division notes that the Fund serves as a safety net to ensure policyholders and claimants of insolvent insurers receive at least part of the benefits owed, and explains that strengthening the Fund is necessary in light of more severe catastrophic events, rising construction costs, and inflation to maintain a stable, consumer‑protective insurance marketplace in the Territory.
USVI Boosts Insurance Guaranty Fund to 55M, Raises Policyholder Protection to 75K
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