Commissioner McCarty Signs Order Approving Assessment on FIGA Members

On October 12, 2007, pursuant to § 631.57(3)(a), Florida Statutes, the Florida Insurance Guaranty Association (“FIGA”) Board of Directors certified to the Florida Office of Insurance Regulation (“OIR”)  the need for a 2% assessment upon its member insurers.

The OIR has completed its review of FIGA’s certification and Commissioner Kevin McCarty has signed an Order approving the certification, effective October 29, 2007. 

By November 20, 2007, companies subject to the Order will be required to pay FIGA “an assessment equal to two (2%) percent of the insurer’s Florida net direct written premiums for the kinds of insurance within the All Other Account for the calendar year 2006.”

For your review, attached please find FIGA’s correspondence to the OIR certifying the assessment, along with the OIR’s Order granting same.  Any questions regarding this assessment may be directed to FIGA at (850) 386-9200.

 

 

Should you have any questions or comments regarding this information, please feel free to contact this office.