Sec. 38a-357-6 - Costs of administration

ยง 38a-357-6. Costs of administration

The NICB is hereby authorized to make assessments, in such manner as its Governing Board may determine, among insurers licensed in the State of Connecticut, to reimburse NICB for the costs of the performance of its duties under sections 38a-357-1 to 38a-357-8, inclusive of the Regulations of Connecticut State Agencies. Such assessments shall be prorated upon the basis of net fire and theft premiums, including those fire and theft premiums written under comprehensive policies, allocated to the State of Connecticut on the basis of ownership, use or maintenance of motor vehicles. Each insurer which is a member of the NICB shall be entitled to a credit against the assessments authorized in this section for all assessments directly related to Connecticut premiums paid by it to the NICB on account of its membership during the period covered by the assessment.

(Effective September 25, 1992; Amended June 26, 1997)

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