Insurers can choose to either collect the 1% assessment from policyholders starting in October 2023 or cover the fee themselves, according to the assessment order. (Credit: bilanol/Adobe Stock)
The Florida Office of Insurance Regulations (OIR) approved a 1% emergency assessment on all covered lines, except auto, to build a fund that will be used by the Florida Insurance Guaranty Association (FIGA) to cover unsettled claims left by insolvent United Property & Casualty Insurance Co.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
