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Florida Policies in Limbo Over Proposed Insolvency Surcharge

October 5, 2021

The Florida Insurance Guaranty Association is urging insurers to hold off on sending homeowners’ policy renewals until state regulators decide if they will approve a surcharge on premiums to help cover more than $168 million in claims left from two carrier insolvencies this year.

With thousands of notices for 2022 policy renewals set to go out in the next few weeks, some insurers have begun to ask what they should do while the Florida Office of Insurance Regulation deliberates on the requested 0.7% increase in premium assessments.

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