Statute · California Insurance Code
Cal. Ins. Code § 10722 — Voluntary Reinsurance Mechanism
Cal. Ins. Code § 10722
- Type
- Statute
- Source
- California Insurance Code
- Jurisdiction
- California
- Date
- 1993-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
If assessments exceed actual losses and administrative expenses of the fund, the excess shall be held at interest and used by the fund to offset future losses or to reduce fund premiums. As used in this paragraph, “future losses” includes reserves for incurred but not reported claims.
Citator
Cal. Ins. Code § 10722 — Voluntary Reinsurance Mechanism is in force in the current edition of the Code, and nothing recorded condemns it.
If assessments exceed actual losses and administrative expenses of the fund, the excess shall be held at interest and used by the fund to offset future losses or to reduce fund premiums. As used in this paragraph, “future losses” includes reserves for incurred but not reported claims.