West Virginia Code 33-26-16 – Recognition of assessments in rates
Current as of: 2023 | Check for updates
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The rates and premiums charged for insurance policies to which this article applies shall include amounts sufficient to recoup a sum equal to the amounts paid to the association by the member insurer less any amounts returned to the member insurer by the association and such rates shall not be deemed excessive because they contain an amount reasonably calculated to recoup assessments paid by the member insurer.
Terms Used In West Virginia Code 33-26-16
- Association: means the West Virginia Insurance Guaranty Association created under section six of this article. See West Virginia Code 33-26-5
- Member insurer: means any person who: writes any kind of insurance to which this article applies under section three of this article, including farmers&rsquo. See West Virginia Code 33-26-5