Texas Insurance Code - Not Codified - Article 21.39. Loss Or Claim Reserves
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Art. 21.39. LOSS OR CLAIM RESERVES.
Article repealed effective April 1, 2007
Every insurer shall maintain reserves in an amount estimated
in the aggregate to provide for the payment of all losses or claims
incurred on or prior to the date of statement, whether reported or
unreported, which are unpaid as of such date and for which such
insurer may be liable, and also reserves in an amount estimated to
provide for the expenses of adjustment or settlement of such
claims. The Board of Insurance Commissioners shall adopt each
current formula for establishing reserves applicable to each line
of insurance recommended by the National Association of Insurance
Commissioners and all companies writing the line of insurance to
which each such adopted formula is applicable shall establish
reserves in compliance therewith.
Acts 1951, 52nd Leg., ch. 491. Amended by Acts 1955, 54th Leg., p.
413, ch. 117, Sec. 52.
Article: 21.28-A 21.28-C 21.28-D 21.28-E 21.31 21.32 21.32A 21.39 21.39-A 21.39-B 21.40 21.41 21.42 21.47 21.49
Last modified: August 11, 2007
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