§431:5-302 Unearned premium reserve for marine and transportation. Marine and transportation insurance policy premiums on trip risks not terminated shall be deemed unearned. The commissioner may require the insurer to carry a reserve equal to one hundred per cent on trip risks written during the month ended as of the date of statement, and:
(1) Computed upon a pro rata basis; or
(2) With the commissioner's consent, in accordance with the alternative methods provided in section 431:5-301(c) and section 431:5-301(d). [L 1987, c 347, pt of §2; am L 1997, c 368, §5]
Section: Previous 431-5-102 431-5-103 431-5-201 431-5-202 431-5-203 431-5-204 431-5-301 431-5-302 431-5-303 431-5-304 431-5-305 431-5-306 431-5-307 431-5-308 431-5-309 NextLast modified: October 27, 2016