The 2023 Florida Statutes (including Special Session C)

Title XXXVII
INSURANCE

Chapter 624
INSURANCE CODE: ADMINISTRATION AND GENERAL PROVISIONS

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F.S. 624.474

624.474 Assessments.—

(1) The trustees of a self-insurance fund operating as a trust, or the corporate directors of a self-insurance fund operating as a corporation, may assess from time to time members of a self-insurance fund liable therefor under the terms of their policies and pursuant to this section, or the department may assess the members in the event of liquidation of the fund.

(2) Subject to the limitations of s. 624.472(1), each member’s share of a deficiency for which an assessment is made shall be computed by applying to the premium earned on the member’s policy or policies during the period to be covered by the assessment the ratio of the total deficiency to the total premiums earned during such period upon all policies subject to the assessment. In the event one or more members fail to pay an assessment, the other members are liable on a proportionate basis for an additional assessment. The fund, acting on behalf of all members who paid the additional assessment, shall institute legal action when necessary and appropriate to recover the assessment from members who failed to pay it.

(3) In computing the earned premiums for the purposes of this section, the gross premium received by the fund for the policy shall be used as a base, deducting therefrom solely charges not recurring upon the renewal or extension of the policy.

(4) No member shall have an offset against any assessment for which she or he is liable on account of any claim for unearned premium or losses payable.

History.—s. 33, ch. 86-160; s. 2, ch. 89-247; ss. 41, 188, ch. 91-108; s. 4, ch. 91-429; s. 83, ch. 93-415; s. 190, ch. 97-102.

F.S. 624.474 on Google Scholar

F.S. 624.474 on Casetext

Amendments to 624.474

Arrestable Offenses / Crimes under Fla. Stat. 624.474

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 624.474.

Annotations, Discussions, Cases:

Cases from cite.case.law:

FLORIDA DEPARTMENT OF FINANCIAL SERVICES, v. TAMPA SERVICE COMPANY, INC., 884 So. 2d 252 (Fla. Dist. Ct. App. 2004)

. . . Receiver then assessed the members of ABO, including TSC, for a deficiency under section 624.474, Florida . . . admissions, including an admission that TSC was not a “member” of ABO, as that term is used in sections 624.474 . . . insurance agreement does not make TSC a member of ABO and subject to statutory assessments under sections 624.474 . . .

SUPER TRANSPORT, INC. AAA v. FLORIDA DEPARTMENT OF INSURANCE,, 799 So. 2d 286 (Fla. Dist. Ct. App. 2001)

. . . liquidation, and was authorized, inter alia, to “[c]alculate any necessary assessments pursuant to sections 624.474 . . .