Assessment Recoupment Provision - Rates & Premiums - Pre-insolvency Assessment base

Assessment History
	Authorized but not Called - Not Applicable
	Last Assessment - Unknown
	Maximum Assessment -.5% Total Premiums / Quarter
	Assessments Projected for 2004 - To Be Determined

Accounts
All in One Account
	Lines Not included - 6, 10, 13, 14, 15.1, 15.2, 15.3, 15.4, 15.5, 15.6, 15.7, 16, 28
	2002 Premium in Account - $ 24,274,412,101 (preliminary)

Other - Workers Compensation covered by a separate Workers Compensation Security Fund.

Assessment Procedures

S7603 (b)(1) Contributions to the property/casualty insurance security fund shall be determined on the basis of net direct written premiums on policies insuring property or risks located or resident in this state.

7603 (c)(2) If contributions are so resumed, they shall be apportioned: (A) ratably among those kinds of insurance as to which the commissioner made payments during the fund year in which the net value of the property/casualty insurance security fund was reduced below such amount, and (B) among insurers in accordance with their respective amounts of net direct premiums written in each such kind of insurance.

S7604 (a) The purpose of the public motor vehicle liability security fund is to secure the benefits contemplated by section three hundred seventy of the vehicle and traffic law in those cases where a policy of insurance or corporate surety bond, therein described, of a solvent and responsible insurer is accepted by the commissioner of motor vehicles as a compliance with such section. The fund shall be used to pay allowed claims of injured parties and policyholders under insurance policies or surety bonds, remaining unpaid, in whole or in part, by reason of the insurer's insolvency or its inability to meet its insurance obligations (including any obligation for the return of unearned premiums) provided the insurer has made payments to the fund as required by subsection (b) hereof. (b) (1) Contributions to this fund shall be determined on the basis of net direct written premiums on insurance policies or surety bonds issued to meet the requirements of section three hundred seventy of the vehicle and traffic law.

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