On November, 13, 2020, the FWCIGA Board of Directors met and discussed 2020 assessment cash flow impacts and future assessment needs. After deliberations, the Board determined the cash position to be adequate and no additional assessment is needed after the current 2020 assessment levy expires December 31, 2020. All new and renewal policies issued (incepting) effective January 1, 2021 are not subject to an assessment, nor surcharge.
The 2020 FWCIGA assessment covers new and renewal policies issued (incepting) from January 1st through December 31st 2020. Through September 30, 2020, FWCIGA has collected over $29M in assessment surcharges from its members. Premiums and adjustments relating to the 2020 policies, whether collected or adjusted in 2020 or during the three following years, are part of the 2020 assessment process and will require ongoing remittance and reporting.
If you have any further questions, please do not hesitate to contact us at (866) 909-9200 or send us a comment at https://fwciga.org/contactus/.