December 31, 2014
Florida Hurricane Catastrophe Emergency Assessment — Termination Effective January 1, 2015
The State of Florida is terminating the Florida Hurricane Emergency Assessment as of January 1, 2015. The termination of the assessment applies to mortgage insurance premiums on loans for Florida properties insured by United Guaranty.
New MI Submissions: For certificates put in-force by United Guaranty on or after January 1, 2015, the assessment will no longer be charged. This applies to all premium options.
Certificates Put In-force Prior to January 1, 2015: United Guaranty is required to collect the hurricane assessment fee on all insurance certificates put in-force prior to January 1, 2015.
Existing Loans with Renewals: United Guaranty is required to collect and remit the assessment on monthly premium renewals until the 2015 anniversary date of the certificate (Florida applies the assessment on an annualized basis). For example, the assessment will be collected with each monthly renewal premium due for a certificate issued on March 2014 through the March 2015 premium due date. This assessment will no longer be collected after the March 2015 premium and assessment have been received.
If you have questions about this announcement, please contact your United Guaranty Account Representative