What FIGA does
The Florida Insurance Guaranty Association takes over claim-handling when a member insurer is declared insolvent. It pays "covered claims" subject to per-claim caps and specific exclusions under Fla. Stat. 631.54.
Key facts
- Per-claim cap: generally $300,000 on a single covered claim for property
- Net worth exclusion: covered claimants with net worth above a statutory threshold are excluded
- Deductible retention: FIGA applies any policy deductible plus an additional FIGA deductible of $100
Your timeline
When your carrier is declared insolvent, you typically have a hard deadline to file a claim with the receiver and FIGA. Miss it, and your claim is barred.
What to do immediately
- Read every piece of mail from the receiver: deadlines are in those letters
- Gather every document you have on your claim
- File a proof of claim with the receiver by the stated bar date
- Continue documenting damages, estimates, and mitigation
When to call a public adjuster
FIGA claims are slower and more procedurally complex than regular carrier claims. A licensed Florida PA can ensure your filing meets all statutory requirements and the claim is properly valued against the per-claim cap.