Recoupment of assessments paid by member insurers

1. Law
2. Maryland Code
3. Insurance
4. Impaired Entities
5. Property and Casualty Insurance Guaranty Corporation
6. Recoupment of assessments paid by member insurers

    The rate and premium charged for a policy or surety bond to which this subtitle applies:

        (1)    shall include an amount sufficient to recoup, over a reasonable length of time of not less than 3 years, the amount paid to the Corporation by the member insurer less any amount returned to the member insurer by the Corporation; and

        (2)    may not be considered excessive because the rate and premium contain an amount reasonably calculated to recoup assessments paid by the member insurer.

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