No assessments have been levied in 2018 and FIGA has sufficient funds to pay existing claims, however, future insolvencies could result in assessments.
The National Conference of Insurance Guaranty Funds publishes on their website actual and projected assessment information for all P&C guaranty funds by quarter-end. The Assessment Liability Report can be found at https://www.ncigf.org/industry/guaranty-fund-assessment-liability-information/. The Assessment Liability Report includes – by statutory account of each state guaranty fund – the maximum assessment, net assessable premium and actual and projected assessment information.
Assessment Recoupment (assessments levied before 7/1/15)
Excess Recoupments: Pursuant to Section 631.57(3)(f), Florida Statutes, excess assessment recoupments (15% or less) must be remitted to FIGA. Excess funds should be sent to FIGA at P.O. Box 14249, Tallahassee, FL 32317 and include a copy of the final reconciliation filed with the OIR.
Florida Office of Insurance Regulation’s FAQs on assessment recoupment.
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