How was the assessment calculated?
The assessment was based on earned premiums, not premiums received. Your bill was calculated by dividing the total deficiency for each year that you were insured by the funds total earned premium for that year. The resulting assessment factor for each year that you were insured is then multiplied by your earned premium for that year, giving you the amount of assessment that you owe for that year. Your total assessment for each year that you were insured is then added to determine your total assessment for all years, and that is the amount you owe.
