Section 27-36-1 Liabilities generally. In any determination of the financial condition of an insurer, capital stock and liabilities to be charged against its assets shall include: (1) The amount of its capital stock outstanding, if any; (2) The amount, estimated consistent with the provisions of this title, necessary to pay all of its unpaid losses […]
Section 27-36-2 Unearned premium reserve – Title insurance. (a) In addition to an adequate reserve as to outstanding losses as required under Section 27-36-1, a title insurer shall maintain an unearned premium reserve of not less than an amount computed as follows: (1) Ten percent of the total amount of the risk premiums written in […]
Section 27-36-3 Unearned premium reserve – Property, general casualty and surety insurance. (a) As to insurance against loss or damage to property, except as provided in Section 27-36-4, and as to all general casualty insurance and surety insurance, every insurer shall maintain an unearned premium reserve on all policies in force. (b) The commissioner may […]
Section 27-36-3.1 Unearned premium reserve – Bail bond surety insurers. In lieu of the unearned premium reserve required in Section 27-36-3, the Commissioner of Insurance may require any surety insurer or limited insurer to set up and maintain a reserve on all bail bonds or other single-premium bonds without a definite expiration date, furnished in […]
Section 27-36-4 Unearned premium reserve – Marine and transportation insurance. As to marine and transportation insurance, the entire amount of premiums on trip risks not terminated shall be deemed unearned, and the commissioner may require the insurer to carry a reserve equal to 100 percent of premiums on trip risks written during the month ended […]
Section 27-36-5 Active life reserve for disability insurance. For all disability insurance policies, the insurer shall maintain an active life reserve which shall place a sound value on its liabilities under such policies and be not less than the reserve according to appropriate standards set forth in regulations issued by the commissioner and, in no […]
Section 27-36-6 Increase of inadequate loss reserves. If loss experience shows that an insurer’s loss reserves, however computed or estimated, are inadequate, the commissioner shall require the insurer to maintain loss reserves in such increased amount as is needed to make them adequate. (Acts 1971, No. 407, p. 707, §742.)
Section 27-36-7 Standard Valuation Law. Repealed by Act 2016-411, §3, effective January 1, 2017. (Acts 1971, No. 407, p. 707, §744; Acts 1976, No. 370, p. 459, §2; Acts 1979, No. 79-661, p. 1142, §2; Acts 1981, No. 81-783, p. 1347, §2; Acts 1996, No. 96-784, p. 1426, §1.)
