The New Jersey Property-Liability Insurance Guaranty Association (“Association”) was established in 1974. It was created to provide a safety net for policyholders and claimants of insolvent property-casualty insurance companies by providing statutory benefits to insureds and claimants of such insolvent companies. The Association is a private, non-profit, unincorporated legal entity established pursuant to the New Jersey Property-Liability Insurance Guaranty Association Act, N.J.S.A. 17:30A-1 et seq. (“Association Act”). The Association Act requires all licensed insurance companies in New Jersey to be members of the Association and contribute funds for its operations.