[§431P-19]  Recoupment of assessments paid.  (a)  Subject to the approval of the commissioner, each licensed property and casualty insurer shall annually recoup assessments paid by the licensed property and casualty insurer under sections 431P-5(b)(8)(A) and (B) and 431P-16(d).  The recoupment shall be recovered by means of a surcharge on premiums charged by the licensed property and casualty insurer for policies on which the assessment was made.  Any excess recovery by a licensed property and casualty insurer shall be credited pro rata to that insurer's policyholders' premiums in the succeeding year unless there has been a subsequent assessment, in which case the excess shall be used to pay the amount of the subsequent assessment.  A licensed property and casualty insurer may continue to collect a surcharge on premiums until the full assessments are recouped.

     (b)  The surcharge required under subsection (a) shall be the same percentage of the total premiums charged for each policy assessed under sections 431P-5(b)(8)(A) and (B) and 431P-16(d).

     (c)  Each licensed property and casualty insurer shall provide to the fund an accounting of its recoupments.  The fund shall compile the licensed property and casualty insurers' accountings and submit the accountings as part of the fund's annual report to the commissioner.

     (d)  The amount of and reason for any surcharge shall be separately stated on any billing sent to an insured.  The surcharge shall not be considered a premium for any other purpose, including the computation of gross premium tax or the determination of producer commissions. [L 2025, c 296, pt of §8]