California Insurance Code ARTICLE 3a - Standard Valuation Law

Section 10489.1.
(a) This article shall be known as the Standard Valuation Law.(b) For the purposes of this article, the following definitions shall apply:(1) “Accident and health insurance” means contracts...
Section 10489.12.
(a) For policies and contracts issued prior to the operative date of the valuation manual, both of the following shall be satisfied:(1) The commissioner shall annually value,...
Section 10489.15.
(a) Each of the following shall apply to actuarial opinions submitted prior to the operative date of the valuation manual:(1) For an actuarial opinion, every life insurance...
Section 10489.2.
For a computation of minimum standard, except as provided in Sections 10489.3, 10489.4, and 10489.95, the minimum standard for the valuation of policies and contracts...
Section 10489.3.
(a) Except as provided in Section 10489.4, the minimum standard of valuation for individual annuity and pure endowment contracts issued on or after the operative date...
Section 10489.4.
(a) The interest rates used in determining the minimum standard for the valuation of the following shall be the calendar year statutory valuation interest rates as...
Section 10489.5.
(a) Except as otherwise provided in Sections 10489.6, 10489.9, and 10489.95, reserves according to the commissioners reserve valuation method, for the life insurance and endowment benefits...
Section 10489.6.
(a) This section shall apply to all annuity and pure endowment contracts other than group annuity and pure endowment contracts purchased under a retirement plan or...
Section 10489.7.
(a) A company’s aggregate reserves for all life insurance policies, excluding disability and accidental death benefits, shall not be less than the aggregate reserves calculated in...
Section 10489.8.
(a) Reserves for any category of policies, contracts, or benefits established by the commissioner may be calculated, at the option of the company, according to any...
Section 10489.9.
(a) If in any contract year the gross premium charged by any life insurer on any policy or contract is less than the valuation net premium...
Section 10489.93.
In the case of a plan of life insurance that provides for future premium determination, the amounts of which are to be determined by the...
Section 10489.94.
(a) The commissioner may issue a bulletin to provide tables of select mortality factors and rules for their use, rules concerning a minimum standard for the...
Section 10489.95.
For accident and health insurance contracts issued on or after the operative date of the valuation manual, the standard prescribed in the valuation manual is...
Section 10489.96.
(a) For policies issued on or after the operative date of the valuation manual, the standard prescribed in the valuation manual is the minimum standard of...
Section 10489.97.
(a) A company shall establish reserves using a principle-based valuation that meets the following conditions for policies or contracts as specified in the valuation manual:(1) Quantify the...
Section 10489.98.
A company shall submit mortality, morbidity, policyholder behavior, or expense experience and other data as prescribed in the valuation manual.(Added by Stats. 2015, Ch. 658,...
Section 10489.99.
(a) For purposes of this section, “confidential information” means:(1) A memorandum in support of an opinion submitted pursuant to Section 10489.15 and any other documents, materials, and...
Section 10489.992.
(a) (1) The commissioner may hire and assign department staff, and retain nondepartment actuaries and other consultants, to assist the commissioner with preparing to implement and implementing,...

Last modified: October 22, 2018