Windstorm Underwriting Association

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  2. Mississippi Code
  3. Insurance
  4. Windstorm Underwriting Association

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Section
83-34-1

Definitions

Section
83-34-3

Creation of Mississippi Windstorm Underwriting Association; organizational structure; certain licensed insurers to become assessable insurers; association revenues; association not subject to state bid requirements

Section
83-34-4

Nonadmitted policy fee; responsibility of surplus lines insurance producer placing insurance through nonadmitted insurer to collect and remit fees; calculation of fee; penalty for nonpayment

Section
83-34-5

Powers and duties

Section
83-34-7

Designation of temporary board of directors; expiration of terms of office; permanent board of directors; composition of board; selection and qualifications of board members; terms of office; powers

Section
83-34-9

Participation by assessable insurers in recoupable and nonrecoupable assessments levied by association; financial incentives and/or penalties to ensure assessable insurers write insurance in the coast area

Section
83-34-10

Power to levy recoupable and nonrecoupable assessments upon occurrence of certain events; maximum nonrecoupable assessments

Section
83-34-11

Repealed

Section
83-34-12

Deferment of assessable insurer's recoupable or nonrecoupable assessment; amount deferred to be assessed against other assessable insurers

Section
83-34-13

Plan of operation; contents; approval by commissioner; certification of approval; effective date of plan

Section
83-34-15

Application for coverage; inspection of property; issuance of insurance; appeal of denial of application

Section
83-34-16

Premium discount for building "fortified home."

Section
83-34-17

Rates

Section
83-34-19

Appeals

Section
83-34-21

Reports of inspection made available

Section
83-34-23

Immunity from liability

Section
83-34-25

Annual report

Section
83-34-27

Commissioner may examine affairs of association; commissioner and association may examine data and payments of assessable insurer or insurers placing insurance through nonadmitted insurers

Section
83-34-29

Rules and regulations

Section
83-34-31

Powers and authority of board of directors to issue bonds and enter into loans or other forms of indebtedness; rights and remedies of bondholders not to be impaired

Section
83-34-33

Surcharge for excess covered event losses on all property and casualty premiums; issuance of bonds to pay claims losses; exempted premiums; purpose of certain surcharges to be designated and specifically identified; licensed insurers and agents to collect and remit surcharges; setting and adjustment of surcharge percentage; cessation of surcharge

Section
83-34-35

Commissioner to approve association rates at least adequate to fund annual reinsurance above a certain reserve

Section
83-34-37

Mississippi Windstorm Underwriting Association Reinsurance Assistance Fund created; purpose; use of funds; reports

Section
83-34-39

Repealed