FL S0346

Defines "assessment year" as the 12-month period specified in an office order directing insurers to pay assessments, beginning on the first day of each quarter starting January 1.

Revises assessment procedures by requiring the office to specify the uniform percentage amount and assessment year start date (no earlier than 90 days after board certification), with insurers making an initial payment before the assessment year begins based on prior year net direct written premiums or good faith estimates.

Requires insurers to file reconciliation reports within 45 days after the assessment year ends, showing amounts collected versus paid, with excess amounts paid to the association and shortfalls credited against future assessments.

Mandates that assessment charges or recoupments be displayed separately on premium bills to policyholders and prohibits their inclusion in rates filed with the office.

Establishes alternative monthly installment collection method allowing the association to collect assessments as funds are collected from policyholders throughout the assessment year when the association projects at least 6 months of cash on hand.