#320 of 500 · Member & Benefit Funds

Florida Insurance Guaranty Association Inc

EIN 59-1378046 · FL · NTEE n/a · Form 990, fiscal 2023

A nonprofit statutory association created by the Florida Legislature. It provides a mechanism to pay covered claims of insolvent property-and-casualty insurance companies licensed in Florida, protecting policyholders and claimants from excessive delay and financial loss when an insurer becomes insolvent. Funded through assessments on member insurers, it assumes and pays covered claims and related expenses of failed insurers.

Financials, fiscal 2023

Revenue

$478.4M

Expenses

$773.9M

Total assets

$617.8M

Net assets

-$15.9M

Operating margin

-61.8%

1-year growth

-26.0%

5-year growth (CAGR)

95.0%

Reserve (years of spending)

-0.2

Contributions share

n/a

Programme spending

0.0%

Fundraising cost

n/a

Executive pay share

0.02%

Employees

30

Revenue per employee

$15.9M

Grants paid

n/a

Years filing

50

NFP Health Score: 54 / 100

Financial 12 · Governance 100 · Operational 90. The score is built from Form 990 line items only. It cannot measure how well an organisation delivers its mission.

Revenue history