Form 990 for tax year 2023

Totals

Total revenue

$128,830,883

Total expenses

$113,341,670

Contributions and grants received

$0

Grants paid

$0

Program service revenue

$127,834,494

Investment income

$777,665

Other revenue

$218,724

Total assets, end of year

$100,666,444

Total liabilities, end of year

$111,837,902

Net assets or fund balances, end of year

-$11,171,458

Program services expenses (Part IX)

$0

Management and general expenses

$0

Fundraising expenses

$0

Program service expenses (Part III)

— not reported

Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Mission and programs · 2023

• Automated Information Systems Services provides and supports information systems for any residual market mechanism. We (1) provide systems planning and design, (2) coordinate telecommunications, networking, and data transmission, (3) offer programming expertise, (4) provide and maintain software, systems, and equipment.

• Rating & Actuarial Services is a licensed rating and/or advisory organization in more than 45 states and the District of Columbia. We (1) collect, evaluate, and edit insurance premium,loss,and expense data received from statistical organizations that collect the data from insurance companies, (2) develop rates and rating rules designed specifically for the residual market, (3) develop individual rates for unique risks not specifically rated from the rating manuals, (4) present rate indications to governing committees, (5) file rates and rules with regulators on behalf of state residual market organizations, (6) provide rates and rules in both print and online formats.

• AIPSO Insurance Operations Services functions as a service provider to private and commercial risks in support of the auto insurance residual markets Commercial Automobile Insurance Procedures (CAIPs), Joint Underwriting Associations (JUAs), and Personal Automobile Insurance Plans (PAIPs) and Private Passenger Pools (PPPs). We (1)utilize a fronting company vendor in jurisdictions where Plan paper is not currently approved for use, (2)underwrite and issue policies assigned via contract with specific state Plan mechanisms, (3)provide customer service to producers and policyholders, (4)work with a claims vendor to service and settle all claims arising from issued policies and (5)report premium and loss statistical data to the mechanisms statistical agents.

• Producer Certification Services provides support for producer licensing and certification for residual market organizations. Management Consulting Services provide management expertise on a consulting basis to residual market mechanisms that are supported, but not managed, by our organization.

• Pooling Mechanism Support Services provides analysis and administrative support for residual market organizations. Fraud Containment Services takes measures on both a national and state level to identify and combat premium diversion and other types of fraud in connection with insurance coverage provided through auto insurance residual market mechanisms and Producer involvement.

• Regulatory Affairs Services communicates with state insurance regulatory agencies on various filings and regulatory issues. Servicing Carrier Audit Services conducts compliance audits (remotely or on-site) of residual market servicing carriers. Uniform Operating Rules Services develops uniform operating rules for residual market organizations.

• Financial Services provides accounting and investment services for any residual market organization. Plan Management Services provides all necessary services, support, and/or products that are needed for the effective and efficient administration of an auto insurance plan, joint underwriting association, or reinsurance facility. Application Processing Services provides customer support

• for any residual market mechanism. Legal and Compliance Services provides all necessary legal counsel and support for automobile residual market organizations managed by AIPSO. Members Participation Services collects data and performs calculations for insurers to equitably participate in the operating results of pooling mechanisms such as PAIP, CAIP,

• JUA, and RF. Policy Form Service develops automobile insurance policies designed specifically for the residual market. Quota Sharing Services develops and adjusts quota ratios for insurers to maintain equitable sharing of insurance applications.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

• New Jersey Automobile Insurance Plan

  501(c)(6) · Make automobile insurance available for persons unable to obtain coverage in the voluntary market. · NJ

• Virginia Automobile Insurance Plan

  501(c)(6) · Make automobile insurance available for persons unable to obtain coverage in the voluntary market. · VA

• Delaware Automobile Insurance Plan

  501(c)(6) · Make automobile insurance available for persons unable to obtain coverage in the voluntary market. · DE

• District of Columbia Automobile Insurance Plan

  501(c)(6) · Make automobile insurance available for persons unable to obtain coverage in the voluntary market. · DC

• Maine Automobile Insurance Plan

  501(c)(6) · Make automobile insurance available for persons unable to obtain coverage in the voluntary market. · ME

• Rhode Island Automobile Insurance Plan

  501(c)(6) · Make automobile insurance available for persons unable to obtain coverage in the voluntary market. · RI

• West Virginia Automobile Insurance Plan

  501(c)(6) · Make automobile insurance available for persons unable to obtain coverage in the voluntary market. · WV

Provenance

Return type

form_990

Tax year

2023

Filed

11 November 2024

IRS schema version

2023v5.1

Source object

202413209349312181

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