1999 Minnesota Statutes

     60C.18 Recognition of assessments in rates. 

    Subdivision 1.  The rates and premiums charged for 
 insurance policies and fidelity and surety bonds to which this 
 chapter applies must include amounts sufficient to recoup a sum 
 equal to the amounts paid to the association by the member 
 insurer less any amounts returned to the member insurer by the 
 association.  The rates shall not be deemed excessive because 
 they contain an amount reasonably calculated to recoup 
 assessments paid by the member insurer. 

    Subd. 2.  Beginning with assessments payable by member 
 insurers in 1988, each member insurer must separately state on 
 either a billing notice or policy declaration sent to an 
 insured, the percentage, dollar amount, or both, of the amount 
 contained in the premium to recoup assessments paid by the 
 member insurer in Minnesota. 

    HIST: 1971 c 145 s 18; 1976 c 185 s 8; 1988 c 541 s 11