Ohio § 3930.08 Contributing to financial requirements of association

Ohio Statutes

§ 3930.08 — Contributing to financial requirements of association

Ohio § 3930.08

Title 39Insurance

Ch. 3930Commercial Market Assistance Plan; Commercial Insurance Joint Underwriting Association

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Bluebook

Ohio Rev. Code Ann. § 3930.08 (2026).

Text

In the event that sufficient funds are not available, from mechanisms provided for in sections3930.04,3930.06, and3930.07of the Revised Code, for the sound financial operation of the Ohio commercial insurance joint underwriting association, all members shall contribute to the financial requirements of the association in the manner provided for in section3930.05of the Revised Code. No member shall be obligated in any one year to reimburse the association on account of its proportionate share in the deficit from operations of the association in that year in excess of one-half of one per cent of its net direct premiums within this state and the aggregate amount not so reimbursed shall be reallocated among the remaining members in accordance with the method of determining participation prescri

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In the event that sufficient funds are not available, from mechanisms provided for in sections3930.04,3930.06, and3930.07of the Revised Code, for the sound financial operation of the Ohio commercial insurance joint underwriting association, all members shall contribute to the financial requirements of the association in the manner provided for in section3930.05of the Revised Code. No member shall be obligated in any one year to reimburse the association on account of its proportionate share in the deficit from operations of the association in that year in excess of one-half of one per cent of its net direct premiums within this state and the aggregate amount not so reimbursed shall be reallocated among the remaining members in accordance with the method of determining participation prescribed in this section, after excluding from the computation the total net direct premiums of all members not sharing in such excess deficit. If a member is assessed or may be assessed because of a deficit, or projected deficit, it may recoup the assessment by increasing its commercial insurance policyholders' rates.