FL S0540

Creates section 626.8621 authorizing employees of the Florida Insurance Guaranty Association with current or past 10-year licensure to adjust losses, and allowing out-of-state guaranty association employees to adjust losses under contract if they meet experience and training requirements.

Redefines "net direct written premiums" as "direct written premiums" and removes exclusion of dividends paid to policyholders from the premium calculation for insurance guaranty association assessments.

Changes assessment installment payment frequency from monthly to quarterly for the Florida Insurance Guaranty Association and clarifies notice requirements apply to emergency assessments.

Revises workers' compensation insurance guaranty association assessment calculation to be based on full direct written premium without reductions for policy deductibles or retrospective rating adjustments, and authorizes the association to audit insurer premium reports.

Changes policy surcharge collection procedures for workers' compensation insurance to allow quarterly installment methods and require reconciliation reporting within 120 days and annually for 3 years; specifies policy surcharges are not subject to premium taxes, fees, or commissions.