518B.4 Insurers assessed. Whenever the secretary shall, in accordance with the Act, present to the state a request for reimbursement under the Act, the commissioner shall immediately assess all insurers which,during the calendar year with respect to which reimbursement is requested by the secretary,were licensed to write and engaged in writing property insurance business, including theproperty insurance components of multiperil policies on a direct basis, in this state. Theamount of each such insurer’s assessment shall be calculated by multiplying the amountof the reimbursement requested by the secretary by a fraction the numerator of which isthe insurer’s premium actually written in this state in that calendar year on habitationaland commercial property, except farm property, risks and the denominator of which is theaggregate premiums written by all licensed insurers on such property risks. In no event shallany insurer’s assessment be less than one hundred dollars. [C71, 73, 75, 77, 79, 81, §518B.4]Referred to in §518B.6, 518B.7 Sat Dec 23 00:51:27 2023 Iowa Code 2024, Section 518B.4 (14, 0)
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