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Merit Rating Board Assessment

Merit Rating Board Assessment

Statutory Cite: MGL C.133, Acts of 2016

https://malegislature.gov/Laws/SessionLaws/Acts/2016/Chapter133 

Anticipated Billing Date: January 2016
FY17 Amount: $9,695,431.00

Purpose: The board may expend for expenses and for legal, investigative, clerical and other assistance such sums as may be appropriated therefore; provided, however, that all costs of administration and operation of said board shall be borne by insurance companies doing motor vehicle insurance business within the commonwealth.

Basis: The commissioner of insurance shall apportion estimated costs among all such companies and shall assess them for the same on a fair and reasonable basis. Said estimated costs shall be paid to the commissioner within thirty days after the date of the notice from the commissioner of such estimated costs. The commissioner shall subsequently apportion actual costs among all such companies and shall make assessment adjustments for any variation between estimated and actual costs on a fair and reasonable basis. Such estimated and actual costs shall include an amount equal to indirect costs as determined by the commissioner of administration and finance and shall also include the cost of fringe benefits as established by the commissioner of administration and finance.

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