The Citizens 2005 HRA Emergency Assessment (EA) will continue to apply to all policies, including endorsements and cancellations or other transactions, with policy effective dates prior to July 1, 2015. Provided below is a summary of the applicable assessment percentages based on the policy effective date:
On January 1, 2017, the 2005 HRA Emergency Assessment no longer will be applicable to any policy transaction. See GEAR reporting requirements.
All carriers shall continue to report assessable direct written premium related to the 2005 HRA Emergency Assessment through the Office’s General Emergency Assessment Reporting (GEAR) quarterly data collection.
The GEAR reporting requirement will continue to remain in effect until direct written premium information for the fourth quarter of 2016 (due March 1, 2017) has been reported.
The GEAR reporting requirement will cease after the fourth quarter 2016 GEAR Report has been submitted.
In connection with the termination of the 2005 HRA Emergency Assessment, Citizens has commenced its final accounting and reconciliation of balances owed to/(from) Citizens.
During October 2015, each carrier will receive a communication indicating the carrier balance as of September 31, 2015, and a cash receipts detail report. These reports will be provided to facilitate a comparison between the carrier’s records and the records of Citizens. Carriers that do not anticipate policy transactions on policies with effective dates prior to July 1, 2015, reducing the balance below $0 owed to Citizens are requested to pay the amount due. Any amounts that remain due to Citizens and unpaid as of March 1, 2016, will accrue interest at a rate of 1 percent per month as provided for in Consent Order 87822-06.
If your company has not received this communication by November 15 2015, contact Assessment@citizensfla.com to update your contact information.
Beginning January 2016, Citizens will begin processing refunds and will continue to process refunds quarterly in each May, July, October, and January. The last quarter that refunds will be processed will be May 2017 to coincide with the final GEAR Report submission date of March 1, 2017. All requests for refunds must be accompanied by a Refund Request form.
Any amounts that remain due to Citizens and unpaid as of March 1, 2016, will accrue interest at a rate of 1 percent per month as provided for in Consent Order 87822-06.
|GEAR Template Chart|
|Quarter||Due to FLOIR||Dates Refunds Processed*|
|3rd Q 2015||11.15.15||January 2016|
|4th Q 2015||03.01.16||May 2016|
|1st Q 2016||05.15.16||July 2016|
|2nd Q 2016||08.15.16||October 2016|
|3rd Q 2016||11.15.16||January 2017|
|4th Q 2016||03.01.17||May 2017|
Yes – All transactions (endorsements, cancellations) are subject to the 2005 HRA Emergency Assessment if the policy to which they apply has an effective date prior to July 1st, 2015. See assessment rates.
Yes, The GEAR reporting requirement will continue to remain in effect until assessable direct written premium for the fourth quarter of 2016 (due March 1, 2017) has been reported.
A Refund Request form is available on our corporate website. Once this form has been completed and submitted, Citizens will contact the submitter and start the refund process.