(a) In addition to the members of the committee elected by the subscribers to administer the plan, the superintendent shall appoint annually two additional members who shall be duly licensed insurance agents or brokers representative of broad segments of the public obtaining insurance through the plan.

(b) Such committee shall establish for the benefit of applicants standards of service of participating insurers including timely issuance of policies, certificates and endorsements, financial security forms, and the collection of required deposits.