There is a newer version of the California Code
2007 California Insurance Code Article 10.3. Single Risk Limitation
CA Codes (ins:928)
INSURANCE CODESECTION 928
928. (a) An admitted insurer shall not undertake any single risk or accept reinsurance on any single risk when its liability thereon in excess of the amount reinsured by reinsurance authorized for annual statement credit under this code exceeds 10 percent of its capital and surplus as shown by its last statement on file in the office of the commissioner. (b) This section shall apply to any class or classes of insurance specified in Chapter 1 (commencing with Section 100) of Part 1 of Division 1, except: (1) Life, as defined in Section 101. (2) Title, as defined in Section 104. (3) Surety, as defined in Section 105. (4) Mortgage Guaranty, as defined in Section 119. (5) Financial Guaranty, as defined in Section 124.
Disclaimer: These codes may not be the most recent version. California may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.