518B.6 Insolvent insurers.
55 words·~1 min read·
/ia/chapter-518b-riot-reinsurance-program/518b-6·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In the event any insurer fails, by reason of insolvency, to pay any assessment, the commissioner shall cause the reimbursement ratios computed under section 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]