The FWCIGA Board of Directors certified the need for a 1.0% assessment on its member insurers at its June 18, 2019 meeting. The Florida Office of Insurance Regulation issued a 1.0% assessment levy on all new and renewal policies with effective dates beginning January 1, 2020 through December 31, 2020. Assessments will be due the FWCIGA quarterly after applying and collecting a 1.0% surcharge to all workers’ compensation and excess workers’ compensation policies.
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 a statutory account of each state guaranty fund – the maximum assessment, net assessable premium and actual and projected assessment information.
FWCIGA Assessment Reporting & Remittance Webinar