FIC: FIGA Condo Association Coverage Increase Clears Another Senate Committee

Property and Casualty

By:  Katrina Callaway, FIC General Counsel SB 898 increases the FIGA coverage limit and the FIGA emergency assessment maximum for condominium association and homeowners’ association FIGA claims.  The bill passed its second Senate committee on February 17, 2020 without amendment and has one committee left. Upon insurer insolvency, FIGA is currently obligated to pay an…