Texas Insurance Code 2210.0725 – Payment From Class 1 Assessments
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(a) Losses in a catastrophe year not paid under Sections 2210.0715 and 2210.072 shall be paid as provided by this section from Class 1 member assessments not to exceed $500 million for that catastrophe year.
(b) The association, with the approval of the commissioner, shall notify each member of the amount of the member’s assessment under this section. The proportion of the losses allocable to each insurer under this section shall be determined in the manner used to determine each insurer’s participation in the association for the year under § 2210.052.
Terms Used In Texas Insurance Code 2210.0725
- Year: means 12 consecutive months. See Texas Government Code 311.005
(c) A member of the association may not recoup an assessment paid under this section through a premium surcharge or tax credit.