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Unearned Premium

When can I expect FIGA to pay my unearned premium claim?

FIGA will pay unearned premium claims after the Receiver completes its processing of the policy records and sends the unearned premium record to FIGA.  This may take several weeks or several months depending on the condition of the data at the insolvent insurance company.

Does FIGA refund premiums for the unexpired term of policies cancelled as a result of liquidation?

FIGA will pay unearned premium claims for covered lines of business after the Florida Receiver completes its processing of the policy records and sends the unearned premium records to FIGA.  A $100 statutory deductible will be taken from the amount owed. Auto service warranty policies are not covered by FIGA and therefore not eligible for premium refunds from FIGA. 

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