Welcome to the Florida Life & Health Insurance Guaranty Association Web site. We hope you find this site helpful in providing information regarding the purpose of the guaranty association and how it protects resident policyholders in the event of an insurance company insolvency. For convenience, we will use the Association's initials ("FLAHIGA") in place of the full name of the Association.
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FLAHIGA is a statutory entity created in 1979 when the Florida legislature enacted the Florida Life and Health Insurance Guaranty Association Act (a link to the Act can be found in the Additional Info section). FLAHIGA is composed of all insurers licensed to sell direct life insurance, accident and health insurance, and certain annuities in the state of Florida.
In general, a court of competent jurisdiction will work with the department of insurance in determining when an insurance company requires special regulatory control. Some steps that might be taken are not publicly announced, but may include supervision of some kind. If early steps do not turn the company around, a period of public rehabilitation may follow.
Premiums filed with the Florida Office of Insurance Regulation on the NAIC "Life, Health & Annuity Guaranty Association Model Act Assessment Base Reconciliation Exhibit" are used to calculate member company assessment amounts. If you do not file the required exhibit, we will use premium amounts from "Schedule T" or "Exhibit of Premiums and Losses."
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