What is the maximum aggregate payout from the association for claims against an insolvent insurer?

The maximum aggregate payout from the association for claims against an insolvent insurer is ten million dollars. This figure is established by regulatory standards within the South Carolina insurance framework, indicating a cap on the amount that the association is authorized to distribute in order to protect policyholders in instances where their insurer becomes unable to meet its obligations due to insolvency.

This limit is put in place to ensure that there are sufficient funds available to assist a significant number of policyholders who are affected by the insolvency, while also maintaining financial stability within the insurance market. Such caps are essential for ensuring that the association can fulfill its purpose of mitigating the impact on consumers, without overextending its resources.

Information about the other figures implies they are either too high or not aligned with current regulatory standards, which emphasize prudent limits to maintain the association's integrity and sustainability. Thus, ten million dollars is recognized as the threshold that balances the needs of policyholders with the financial health of the insurance safety net.