CIGA pertains to what aspect of insurance?

The California Insurance Guarantee Association (CIGA) specifically addresses the issue of an insurer's insolvency. When an insurance company becomes insolvent and is unable to meet its financial obligations, CIGA comes into play to protect policyholders and ensure that they receive at least a portion of their claims. CIGA is designed to maintain consumer confidence in the insurance market by providing a safety net for individuals who are affected by such insolvencies. This program handles claims against insolvent member insurers and aims to stabilize the insurance marketplace by mitigating the impact of insolvency on policyholders.

The other options relate to different aspects of the insurance process. For example, the licensing process is concerned with the qualifications and regulatory framework surrounding brokers, while claim denial procedures involve how insurers process and respond to claims. Policy underwriting standards refer to how insurance policies are assessed for risk factors before issuance. Each of these topics is important within the overall structure of insurance, but none directly connect to the purpose and function of CIGA like the aspect of insurer insolvency does.