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What is the Florida Workers’ Compensation Insurance Guaranty Association?

FWCIGA is part of a non-profit, state-based, statutorily-created system that pays certain outstanding claims of insolvent workers’ compensation insurance companies and self-insurance funds.  By paying these claims, guaranty associations protect policyholders and claimants.

Guaranty associations are active in every state, the District of Columbia, Puerto Rico and the Virgin Islands.  State laws require that licensed property and casualty insurance companies belong to the guaranty associations in every state where they are licensed to do business.

A guaranty association system also exists in Florida for the life, health and annuity insurance industry and individual self insured’s; but they operate independently from the property and casualty system.  This information concerns only the property casualty guaranty associations.