Iowa Code 518B.6 – Insolvent insurers
Current as of: 2024 | Check for updates
|
Other versions
518B.6 Insolvent insurers.
In the event any insurer fails, by reason of insolvency, to pay any assessment, the
commissioner shall cause the reimbursement ratios computed under § 518B.4 to be immediately recalculated excluding therefrom the insolvent insurer, so that its assessment is in effect assumed and redistributed among the remaining insurers.
[C71, 73, 75, 77, 79, 81, §518B.6]
In the event any insurer fails, by reason of insolvency, to pay any assessment, the
commissioner shall cause the reimbursement ratios computed under § 518B.4 to be immediately recalculated excluding therefrom the insolvent insurer, so that its assessment is in effect assumed and redistributed among the remaining insurers.
[C71, 73, 75, 77, 79, 81, §518B.6]