Owners $168 million tab to identify failed insurance coverage firms

Florida householders could possibly be compelled to choose up the tab on two failed insurance coverage firms.

Insurance coverage regulators may quickly stake $168 million in assessments on Floridians’ property and casualty insurance coverage payments to assist pay for the lack of two insurance coverage firms that collapsed this yr.

The Florida Insurance coverage Warranty Affiliation (FIGA), which picks up property and casualty insurance coverage claims when insurance coverage firms go bancrupt, has requested the Workplace of Insurance coverage Regulation (OIR) to levy a 0.7% evaluation on insurance coverage firms in 2022, which might give FIGA an extra $168 million.

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