Florida Workers’ Compensation Insurance Guaranty Association

The purpose of the Florida Workers’ Compensation Insurance Guaranty Association, Inc. (FWCIGA) is to implement Florida Statute Sections 631.901 – 631.932 and to provide a mechanism for the payment of covered claims, to avoid excessive delay in payment and to avoid financial loss to claimants in the event of the insolvency of a member insurer. FWCIGA was created through a merger of the Florida Self-Insurance Fund Guaranty Association, Inc. (FSIFGA) and the workers’ compensation account of the Florida Insurance Guaranty Association, Inc. (FIGA), as required and provided for by legislation enacted by the legislature of the State of Florida (Florida Statute Section 631.911).

An eleven member Board of Directors is authorized under Florida Statutes Section 631.912 (see Board of Directors page). The Executive Director is Thomas D. Streukens.

FWCIGA evaluates workers’ compensation claims made by insureds against insolvent member companies or funds and determines if such claims are covered claims which should be paid or settled with funds from FWCIGA. FWCIGA also determines whether an assessment against its members is necessary to pay covered claims of an insolvent insurer, or to reimburse FWCIGA for expenses associated with carrying out its statutory functions. In addition, FWCIGA may make reports and recommendations to the Florida Office of Insurance Regulation regarding solvency, liquidation or rehabilitation of member insurers, may request an examination of member insurers which may be impaired or insolvent and may make recommendations to the Florida Office of Insurance Regulation regarding the detection and prevention of insolvency of a workers’ compensation insurer.

Florida Statute 631.914 allows for the assessment of member insurers and self-insurance funds at a rate of 2% of the insurer’s or fund’s direct written workers’ compensation insurance premiums in the state of Florida. If assessments otherwise authorized are insufficient to make all payments on reimbursements then owing, an additional assessment of up to 1.5 % may be levied.  Assessments are levied on full policy premium prior to discounts and deductible credits.