(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.
Structure Connecticut General Statutes
Chapter 704b - Federal Riot Reinsurance Reimbursement Fund
Section 38a-894. (Formerly Sec. 38-114a). - Federal Riot Reinsurance Reimbursement Fund.
Section 38a-896. (Formerly Sec. 38-114c). - Assessment of insurers.
Section 38a-897. (Formerly Sec. 38-114d). - Additional premium charged on property insurance.
Section 38a-898. (Formerly Sec. 38-114e). - Insolvency of insurer.