Which of the following provides financial security for insured individuals in case of insurer bankruptcy?

The Insurance Guarantee Association provides financial security for insured individuals in the event of an insurer's bankruptcy. These organizations are established in many states to protect policyholders and ensure that claims are paid even when an insurance company is unable to meet its obligations due to insolvency. When an insurer goes bankrupt, the Insurance Guarantee Association steps in to cover claims, often within certain limits set by the state. This helps maintain public confidence in the insurance system by ensuring that individuals who have purchased insurance are not left with unpaid claims due to the failure of their insurer.

The other options presented do not fulfill this role. The Consumer Financial Protection Bureau focuses on protecting consumers in financial markets but does not specifically address insurance insolvency. The National Association of Insurance Commissioners is a regulatory support organization for state insurance commissioners but does not provide direct financial protection to policyholders. The Federal Insurance Corporation does not exist in a relevant context; the FDIC is related to bank deposits rather than insurance policies. Thus, the Insurance Guarantee Association is the vital entity that ensures financial security for insured individuals facing insurer bankruptcy.