This page provides links to the websites of the four Florida Insurance Guaranty Associations.
The trustee works with guaranty associations to ensure that claims are resolved in a timely manner. At the heart of every insurance contract is a promise that if disaster strikes, insurance will step in to soften the blow by covering allowed outstanding claims. When an insurance company fails, a guaranty association is an entity that takes the place of the failed insurer for the purpose of providing certain ongoing benefits and/or resolution of covered claims. however, not all types of insurance policies or claims are covered by guaranty associations.
For more information, click on the links below.
- Florida Insurance Guaranty AssociationThe Florida Insurance Guaranty Association (FIGA) establishes and maintains a service-oriented operation to process covered claims from insolvent members. figa is a not-for-profit corporation created by the florida legislature in 1970. figa services pending claims by or against florida policyholders of member insurance companies that are declared insolvent and ordered liquidated. FIGA’s membership is made up of all Florida licensed direct property or casualty insurance writers.
- florida life and health insurance guaranty associationthe florida life and health insurance guaranty association (flahiga) is a statutory entity created in 1979 when the florida legislature enacted the Florida Life and Health Insurance Guaranty Association Act (Flahiga Act). Flahiga is comprised of all insurers licensed to sell direct life insurance, accident and medical insurance, and certain annuities in the state of Florida. In the event that a member insurer is found to be insolvent and a court orders its liquidation, Flahiga Law allows Flahiga to provide limited protection to Floridians who own life and health insurance policies and certain annuities with the insolvent insurer.
- florida health maintenance organization consumer assistance plan the florida health maintenance organization consumer assistance plan (hmocap) was created by law to protect to persons enrolled in coverage with hmos, subject to certain limitations, against the failure of their hmo to meet its contractual obligations due to its insolvency. hmocap only provides protection to “commercial” hmo members: those who have group coverage, usually through their employer, or people who purchase individual coverage directly through the hmo. people enrolled in an hmo for medicaid or medicare coverage are not covered by hmocap. Rather, these individuals should contact the Florida Agency for Health Care Administration (for Medicaid) or the Federal Center for Medicare and Medicaid Services (for Medicare) if they have questions about coverage.
- Florida Workers’ Compensation Insurance Guaranty Association The purpose of the Florida Workers’ Compensation Insurance Guaranty Association, Inc. (fwciga) is to implement sections 631.902 – 631.927 of the florida statute and provide a mechanism for the payment of covered claims, to prevent undue delay in payment and to prevent financial loss to claimants in the event of the insolvency of a member insurer. fwciga was created through a merger of the florida self-insurance fund guaranty association, inc. (FSIFGA) and the Workers’ Compensation Account of the Florida Insurance Guaranty Association, Inc. (figure)