Sec. 38a-896. (Formerly Sec. 38-114c). Assessment of insurers.
Sec. 38a-896. (Formerly Sec. 38-114c). Assessment of insurers. (a) Whenever
the secretary shall present to the state a request for reimbursement under the provisions
of sections 38a-894 to 38a-898, inclusive, the fund shall immediately assess all insurers
which, during the calendar year with respect to which reimbursement is requested by
the secretary, are engaged in writing property insurance in this state. The amount of
each such insurer's assessment shall be calculated by multiplying the amount of the
reimbursement requested by the secretary by a fraction, the numerator of which is the
insurer's direct property insurance premiums earned in this state and the denominator
of which is the aggregate of such premiums for all insurers.
(b) Within thirty days following the assessment by the fund, the participating insurers shall remit, in full, their share of the assessment to the fund and they shall be reimbursed in accordance with section 38a-897.
(1969, P.A. 321, S. 3, 5.)
History: Sec. 38-114c transferred to Sec. 38a-896 in 1991.