Insurance Department

Insurance Carrier Assessments

In accordance with State law, the Department assesses insurance carriers operating in New York State to fund the direct and indirect operating costs of programs associated with the Department. We reviewed the financial records maintained by the Department for the six years ended March 31, 1993 to verify the accuracy of the Department's estimated assessments during this period. These assessments were based on the estimated expenses and revenues of the programs funded by the assessments. As a result of our review, the Department was to calculate actual assessment amounts for the period and make refunds to, or additional collections from, individual insurance companies, as appropriate. 95-D-23