FIGA extends 0.7% assessment to support $150mn borrowing
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FIGA extends 0.7% assessment to support $150mn borrowing

Martha Muir
22 August 2022
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Florida state flag.jpg

The board of Florida Insurance Guaranty Association (FIGA) voted on Friday to extend a 0.7% assessment into next year, to finance a $150mn loan needed to pay claims primarily for Southern Fidelity policyholders.

Southern Fidelity went into receivership in June.

FIGA is a state-run body that steps in to pay claims when insurers go into insolvency.

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Martha Muir
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