FIGA’s assessments are computed and billed based on the immediate needs of the guaranty association that has claims it needs to pay. Claim files come in from the insolvent insurance company; the adjusters review them, and set appropriate reserves on those files. (Reserves are the projected ultimate liability under terms of a given policy.)
In Florida the assessment cap is 2% of net direct-written premium for regular assessments and an additional 2% for emergency assessments for insolvencies relating to hurricanes. FIGA cannot assess an insurance company more than the statutorily set cap on assessments.