FL S0600

Revises the definition of "assets" for determining insurer financial condition to include Florida Insurance Guaranty Association assessments paid before policy surcharges are collected, establishing them as receivables based on National Association of Insurance Commissioners standards.

Allows monthly installment assessments paid after policy surcharges are collected to be recognized as assets offset by the obligation to the Florida Insurance Guaranty Association.

Removes language limiting the Florida Life and Health Insurance Guaranty Association's liability for civil actions under section 624.155 to acts prior to liquidation.

Adds explicit requirement that the association must pay valid insurance policy or contract claims following independent de novo review after rehabilitation or liquidation proceedings.

Changes reference from "shall be deemed to toll" to "tolls" regarding the 1-year tolling period for rescission or noncontestable periods following a liquidation order.