HB 467- Relating to Insurance Guaranty Association Assessments
On Wednesday, November 18th, HB 467, relating to Insurance Guaranty Association Assessments, by Rep. Doug Broxson (R-Milton) was heard in the House Insurance & Banking Subcommittee with 12 yeas and 0 nays. AIF stood in support of this bill.

HB 467 creates a new method for the Florida Workers’ Compensation Insurance Guaranty Fund (FWCIGA) to collect assessments on an installment basis, thus preventing the advancement of funds by member companies, as well as separating the assessment amount from premium rates, effectively eliminating premium taxes on FWCIGA assessments.

The next stop for HB 467 is in the House Finance & Tax Committee.

AIF supports this bill as it makes sensible adjustments to Florida’s guaranty programs to ensure that claimants of insolvent companies can be made whole without undue burden on existing workers’ compensation carriers and their policyholders.