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Section 11623.5 Of Article 4. Assigned Risk Plans From California Insurance Code >> Division 2. >> Part 3. >> Chapter 1. >> Article 4.
11623.5
. (a) Groups of insurers not under common ownership or
management may form a limited assignment distribution arrangement.
Each arrangement shall have one servicing carrier that writes
assigned risk business on behalf of the members of the arrangement in
return for consideration from the other participating carriers for
not writing the business.
(b) No insurer may act as a servicing carrier except with the continuing approval of the commissioner.
(c) Each servicing carrier shall have a surplus of at least ten million dollars ($10,000,000).
(d) Upon the approval of the commissioner of a servicing carrier under this section, the plan shall make all assignments that otherwise would be made to a participant to the servicing carrier for that participant.
(e) The commissioner shall impose a filing fee for the filing necessary to obtain approval pursuant to this section, which fee shall be limited to that sufficient to defray the costs of the department in connection with considering the application.
(b) No insurer may act as a servicing carrier except with the continuing approval of the commissioner.
(c) Each servicing carrier shall have a surplus of at least ten million dollars ($10,000,000).
(d) Upon the approval of the commissioner of a servicing carrier under this section, the plan shall make all assignments that otherwise would be made to a participant to the servicing carrier for that participant.
(e) The commissioner shall impose a filing fee for the filing necessary to obtain approval pursuant to this section, which fee shall be limited to that sufficient to defray the costs of the department in connection with considering the application.
