A Florida Self-Insurers Irrevocable Letter of Credit (FLS ILC) is a form of surety bond that is required by the state of Florida for certain employers who self-insure or self-fund their own workers’ compensatioclaimThothTFSSSSSSL SLSLS ILCLC provides a guarantee that the employer will pay their workers’ compensation claims in a timely manner. The FLS ILC is administered and monitored by the Florida Department of Financial Services and must be issued by a financial institution in the state of Florida. There are two types of Flails: a single employer FLS ILC and a group FLS ILC. A single employer FLS ILC is required for employers who self-insure or self-fund their own workers’ compensation claims and must be in an amount equal to the estimated maximum liability for workers’ compensation claims in the current policy period. A group FLS ILC is required for employers who are members of a group self-insurance fund and must be in an amount equal to the estimated maximum liability for the workers’ compensation claims of all members of the group during the current policy period.