20-1556.01. Premium deficiency reserve
If the mortgage guaranty insurance company's anticipated losses, loss adjustment expenses, commissions and other acquisition costs and maintenance costs are more than the recorded unearned premium reserve, contingency reserve and estimated future renewal premiums on existing policies, the company shall establish a premium deficiency reserve by recording an additional liability for the deficiency according to the accounting practices and procedures manual adopted by the national association of insurance commissioners.
Section: Previous 20-1550 20-1551 20-1552 20-1553 20-1554 20-1555 20-1556 20-1556.01 20-1557 20-1558 20-1559 20-1560 20-1561 20-1562 20-1563 NextLast modified: October 13, 2016