20170103 - Reinstatement of 2012 Florida Insurance Guaranty Association Assessment - CL - Public
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Reinstatement of 2012 Florida Insurance Guaranty Association Assessment
January 03, 2017
Citizens’ recoupment of the 2012 Florida Insurance Guaranty Association (FIGA) regular assessment, which ended on November 30, 2016, is not complete. As a result, the Office of Insurance Regulation (OIR) has approved reinstating the assessment for new and renewal policies effective on or after March 1, 2017.
- Will be reinstated with a new factor of .0013 (or 0.13 percent)
- Is scheduled to be collected for one year
- Will have a minimum charge of $1
The 2012 Florida Insurance Guaranty Association Regular Assessment will be listed on Declarations pages under the additional charges section.
Rating worksheets and manuals have been updated as needed on the Agents site. Once you log in, go to the Commercial section, click a product line on the left side of the page and select Rating Worksheets or Manuals from the center column menu. This change does not apply to recalculated rating worksheets because these worksheets are not affected by assessments.
For more information regarding FIGA, visit www.figafacts.com.
Agent Bulletins are provided for historical purposes only and have not been updated to include any changes that may have been made after publication. Agents can find the latest information by reviewing the applicable underwriting manuals and by logging in, then selecting Search → Search Frequently Asked Questions.