10.__Insolvency.__In the event any participating insurer fails, by reason of insolvency, to pay any assessment, the association shall cause the reimbursement ratios to be immediately recalculated, excluding from this recalculation the amount of the insolvent insurer's assessment determined by the superintendent to be uncollectible, so that such uncollectible amount is, in effect, assumed and redistributed among the remaining participating insurers.

11.__Assessments and premium surcharges.__If a deficit occurs in the association, the association shall assess participating insurers in accordance with this subsection and each insurer may charge a premium surcharge on every property insurance policy issued by it insuring property in this State, the effective date of which policy is within the 3-year period commencing 90 days after the date of assessment by the association.__The amount of the surcharge must be calculated on the basis of a uniform percentage of the premium on such policies equal to 1/3 of the ratio of the amount of an insurer's assessment to the amount of its direct earned premiums as reported in its financial statement to the bureau for the calendar year immediately preceding the year in which the assessment is made, such that over the period of 3 years the aggregate of all such surcharges by an insurer equals the amount of the assessment of such insurer.__The minimum surcharge on a policy is $1.__A surcharge may be rounded to the nearest dollar.

12.__Sanctions.__If the association, inspection bureau or a participating insurer is found to be in violation of or in failure to comply with this section, such entity is subject to the penalties authorized in section 12-A.__The superintendent may also utilize any other disciplinary procedures authorized by this Title, including the cease and desist procedures authorized by section 12-A.

13.__Annual report.__The association shall compile a calendar year annual operating report and submit this annual report to the superintendent and the joint standing committee of the Legislature having jurisdiction over insurance and financial services matters on or before March 31st of the following calendar year.__The annual report is a public record as defined in Title 1, section 402, subsection 3.

14.__Powers of superintendent.__In addition to any powers conferred upon the superintendent by this section or any other law, the superintendent shall supervise the association and the inspection bureau. In addition, the superintendent may: