Pennsylvania

 

Executive Director - Homer A. Rhule

 

Assessment Recoupment Provision - Rates & Premiums
Assessment History
Authorized but not Called - Yes 
Last Assessment - 2003
Maximum Assessment - 2% / Account
Assessments Authorized for 2003:  $  117,116,000 (detailed below)
Account Company Amount
Auto Acceleration National Insurance $         40,000
Other American Eagle $    1,510,000
Auto American Horizon $       750,000
Other American Mutual Liability Insurance Company $    3,740,000
Other Credit General Insurance Company $    1,025,000
Auto Credit General Insurance Company $        70,000
Auto Home Insurance Company $   1,250,000
Other Home Insurance Company $   3,250,000
Auto Legion Insurance Company $   2,500,000
Other Legion Insurance Company $   5,000,000
Other LMI $     316,000
Other Midland Insurance Company $     730,000
Other Paxton National Insurance Company $   1,900,000
Other PHICO $ 66,250,000
Other PIC Insurance Group, Inc. $ 14,660,000
Auto Premier Insurance Company $     300,000
Other Reliance Insurance Company $   7,450,000
Other Reciprocal of America $   1,185,000
Auto Villanova Insurance Company $     500,000
Other Villanova Insurance Company $     115,000
Other Western Employers $     100,000
Auto White Hall Mutual Insurance $     150,000
Other White Hall Mutual Insurance $  4,325,000 

Accounts
	Auto: 
		Lines included - 19.1, 19.2, 19.3, 19.4, 21.1, 21.2
		2002 Premium in Account - $ 7,512,028,004
	All Other:
		Lines included - 1, 2.1, 3, 4, 5.1, 5.2, 9, 11, 12, 17, 18, 22, 26, 27
		2002 Premium in Account - $ 5,577,809,820

There is a separate, pre-funded Security Fund for Workers Compensation.
 

Assessment Procedures

Pennsylvania Property & Casualty Insurance Guaranty Association assesses by Account and by Insolvency, based on financial needs.

- Assessments are based on prior year’s premiums of the year the Assessment is authorized.

- On December 19, 2002 the Board of Directors authorized the Assessments as listed above.

Finally, in estimating the cost of these insolvencies, one component of the calculation is always missing: The amount that will be recouped from the Liquidator. Early Access Funds are very important to all Guaranty Funds and we would hope that more attention be focused on obtaining these funds to lessen the burden on all Member Companies.

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