Thursday, August 18th, 2005 — The Office of Insurance Regulation (OIR) has 30 days to approve the amount of the assessment and then Citizens will issue assessment notices to individual carriers based on their market share and so called participating ratio. Carriers will have 30 days to pay Citizens and then must recoup from their policyholders through worksheet filings with OIR. The assessment is necessary because of a $515 million deficit in Citizens’ High Risk Account, the old Florida Windstorm Underwriting Association, where total hurricane losses from the account are estimated at $1.8 billion.