Florida Hurricane Catastrophe Fund Emergency Assessment From 2005 Storms to Begin January 1, 2011

Date Published: 04-29-2010

 

The Florida Office of Insurance Regulation issued an Order today, April 29, 2010, levying an emergency assessment of 1.30 percent of direct written premium on all property and casualty lines of business.   Excluded from the assessment are workers' compensation, accident and health, and medical malpractice premiums.   Premiums for policies written under the National Flood Insurance Program premiums and Federal Crop Insurance Act are also excluded.

The assessment was approved by the Florida State Board of Administration to fund Florida Hurricane Catastrophe Fund losses stemming from the 2005 hurricane season.

The emergency assessment commences on January 1, 2011.

A copy of the Order is attached for review.