On June 22, 2026, the U.S. Virgin Islands Division of Banking, Insurance, and Financial Regulation (the Division) issued Bulletin 2026-04 (the Bulletin) regarding an “increase in the Virgin Islands Insurance Guaranty Fund amount and policyholder or third-party coverage limit[s].” The Bulletin informs residents of the Virgin Islands that Act No. 9100 (the Act) was signed into law on May 29, 2026, and is now codified at V.I. Code Ann. 33 § 3061. The Bulletin outlines the Act’s impact on the Virgin Islands Insurance Guarantee Fund, specifically that “the required funding level of the Virgin Islands Insurance Guaranty Fund has been increased from $50 million to $55 million.” Additionally, the Bulletin states that, pursuant to the Act, “the maximum amount payable to a policyholder or claimant in the event of an insurer’s insolvency has been increased from $50,000 less $50.00 to $75,000 less $50.00.” The $50 is representative of “the statutory deductible or non-covered portion of an insurance claim.” Notably, these increases only apply to future claims. The Bulletin expresses the importance to the Division of the Guarantee Fund as a “safety net” in the case of an insurance company’s insolvency and explains that “[c]onsidering the increasing severity of catastrophic events, such as hurricanes, coupled with rising construction costs and inflation, strengthening the Guaranty Fund is both prudent and necessary.”