FL S0828

Office of Insurance Regulation levies assessments on workers' compensation insurers proportional to their net direct written premiums to fund the guaranty association and cover claim administration costs.

Assessments computed on full policy premium value without deductions for deductibles; insurers and self-insurance funds must report premiums accordingly.

Member insurers collect uniform percentage surcharges on new and renewal policies beginning 90 days after board certification, with surcharge periods aligned to calendar quarters.

Association may use installment method (assessments due quarterly as premium is written) or require insurers to remit assessments before collecting policyholder surcharges, with reconciliation reports due within 120 days after assessment period ends.

Assessments are not subject to premium taxes or commissions; insurers treat unpaid surcharges as unpaid premiums and are not liable for uncollectible surcharge amounts.