§ 48.12.090. Loss reserves -- Liability insurance
The reserves for outstanding losses and loss expenses under policies of personal injury liability insurance and under policies of employer's liability insurance shall be computed as follows:
(1) The reserves for outstanding losses and loss expenses under policies of personal injury liability insurance and under policies of employer's liability insurance shall be computed in accordance with accepted loss-reserving standards and principles and shall make a reasonable provision for all unpaid loss and loss expense obligations of the insurer under the terms of such policies.
(2) Reserves under liability policies written during the three years immediately preceding the date of determination shall include any additional reserves required by the annual statement instructions of the national association of insurance commissioners.
[1995 c 35 § 2; 1947 c 79 § .12.09; Rem. Supp. 1947 § 45.12.09.]
Sections: Previous 48.12.020 48.12.030 48.12.040 48.12.050 48.12.060 48.12.070 48.12.080 48.12.090 48.12.100 48.12.110 48.12.140 48.12.154 48.12.156 48.12.158 48.12.160 NextLast modified: April 7, 2009