FL H0189

Allows Florida Insurance Guaranty Association assessments to be counted as admissible assets when determining insurer financial condition, provided assessments are paid before policy surcharges are collected and meet National Association of Insurance Commissioners accounting standards.

Requires the asset to be recorded separately from the liability and reduced proportionally if the insurer cannot fully recoup the assessment amount due to reduced writings or market withdrawal.

Removes language limiting the Florida Life and Health Insurance Guaranty Association's obligation to pay valid claims following insurer rehabilitation or liquidation after independent de novo review.

Establishes that court-ordered liquidation tolls rescission and noncontestable periods for 1 year to allow orderly claims administration by the association.

Takes effect July 1, 2015.