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Florida Statutes Title XXXVII. Insurance § 624.4415. Assessments

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) All multiple-employer welfare arrangements shall provide that employers are assessable in accordance with this section.

(2) Each multiple-employer welfare arrangement may assess all employers if its prior fiscal year statement of operations reflected a loss.

(3) Each multiple-employer welfare arrangement shall assess all employers if the arrangement's fund balance at the end of any accounting period is less than the fund balance required by statute.

(4)(a) The minimum assessment shall be the amount necessary to comply with the requirements of s. 624.4392. Each employer's assessment shall be computed by applying the earned premium for each employer's plan of benefits during the prior fiscal year as a percent of the amount of the total of all employers' earned premium for the same year. Each employer's assessment shall be that employer's percent times the total assessment levied.

(b) In the event members fail to pay assessments, the other members shall be liable on a proportionate basis for an additional assessment.

(c) The multiple-employer welfare arrangement, acting on behalf of all members who paid the additional assessment, shall institute legal action, when necessary and appropriate, to recover the assessment from the members who fail to pay their assessment.

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Cite this article: FindLaw.com - Florida Statutes Title XXXVII. Insurance § 624.4415. Assessments - last updated January 01, 2025 | https://codes.findlaw.com/fl/title-xxxvii-insurance/fl-st-sect-624-4415/

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