The 2022-1 FIGA Assessment
The Florida Office of Insurance Regulation approved a Florida Insurance Guaranty Association
(FIGA) assessment for new and renewal policies effective January 1, 2022, through December 31, 2022. This is a mandatory assessment, and all Florida carriers are required to add this to their 2022 policyholder premiums by adding a 0.7% FIGA fee. We pass this fee directly to the FIGA.
We wanted to make you aware of this fee and let you know that if your policy declarations page and/or renewal has already generated for the 2022 term, a new declarations page will be generated. No action is required of you at this time. You will receive an additional communication from us if future action is required related to this fee.
- If you have any questions about the FIGA fee or your policy, please contact your insurance agent, or call us at 888-850-4663.
- If you've already received your FIGA fee invoice and would like to pay it online, click here.
What is the FIGA?
FIGA is part of a non-profit, state-based, statutorily-created system that pays certain outstanding claims of insolvent insurance companies. By paying these claims, guaranty associations protect policyholders and claimants. State laws require that licensed property and casualty insurance companies belong to the guaranty associations in every state where they are licensed to do business.