Florida Guaranty Funds and Associations
This page provides links to the websites of Florida’s four insurance guaranty associations.
The Receiver works with guaranty associations to ensure claims are resolved in a timely manner. At the heart of every insurance contract is a promise that if misfortune occurs, insurance will step in to soften the blow by covering allowed, outstanding claims. When an insurance company fails, a guaranty association is an entity which steps into the shoes of the failed insurer for the purpose of providing certain continued benefits and/or resolution of covered claims. However, not all types of insurance policies or claims are covered by guaranty associations.
For more information, please click on the links below.
- Florida Insurance Guaranty Association
The Florida Insurance Guaranty Association (FIGA) establishes and maintains a service-oriented operation for processing covered claims of insolvent members. FIGA is a nonprofit corporation created by the Florida Legislature in 1970. FIGA services pending claims by or against Florida policyholders of member insurance companies which become insolvent and are ordered liquidated. FIGA’s membership is composed of all Florida licensed direct writers of property or casualty insurance.
- Florida Life and Health Insurance Guaranty Association
The Florida Life and Health Insurance Guaranty Association (FLAHIGA) is a statutory entity created in 1979 when the Florida Legislature enacted the Florida Life and Health Insurance Guaranty Association Act (FLAHIGA Act). FLAHIGA is composed of all insurers licensed to sell direct life insurance, accident and health insurance, and certain annuities in the state of Florida. In the event that a member insurer is found to be insolvent and is ordered to be liquidated by a court, the FLAHIGA Act enables FLAHIGA to provide limited protection to Florida residents who are holders of life and health insurance policies and certain annuities with the insolvent insurer.
- Florida Health Maintenance Organization Consumer Assistance Plan
The Florida Health Maintenance Organization Consumer Assistance Plan (HMOCAP) was created by statute to protect persons enrolled for coverage with HMOs, subject to certain limitations, against the failure of their HMO to perform its contractual obligations due to its insolvency. The HMOCAP only provides protection for "commercial" HMO members – those who have group coverage, generally through their employer, or persons who purchase individual coverage directly through the HMO. Persons who are enrolled with an HMO for Medicaid or Medicare coverage are not covered by the HMOCAP. Rather, these persons must contact the Florida Agency for Health Care Administration (for Medicaid) or the federal Center for Medicare and Medicaid Services (for Medicare), for their coverage questions.
- Florida Workers' Compensation Insurance Guaranty Association
The purpose of the Florida Workers' Compensation Insurance Guaranty Association, Inc. (FWCIGA) is to implement Florida Statute Sections 631.902 - 631.927 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)