AB 2230 Summary

• Increases the maximum premium assessment charged to member insurers from 1% to 2% of net direct written premium, effective January 1, 2015

• Limits the premium to 1% for insurance categories where bond proceeds are being used to pay claims and expenses if bonds issued under Article 14.25 or 14.26 are outstanding

• Prohibits further initial special bond assessments from being levied once all bonds issued pursuant to these provisions are redeemed

• Requires premium adjustments and resulting credits or charges from special bond assessments to continue being applied to workers' compensation assessments otherwise required by CIGA