2013 California Code
Insurance Code - INS
DIVISION 2. CLASSES OF INSURANCE
PART 3. LIABILITY, WORKERS' COMPENSATION, AND COMMON CARRIER LIABILITY INSURANCE
CHAPTER 1. General Regulations
ARTICLE 1. Reserves of Insurers
11554
In estimating the condition of any insurer admitted to transact such liability or compensation insurance, the commissioner shall charge as liabilities, among any other items, the following:
(a) All outstanding indebtedness of such insurer.
(b) A premium reserve on policies in force, equal to the unearned portions of the gross premiums charged for covering the risks and computed on each respective risk from the date of the issuance of the policy.
(c) Proper reserves for outstanding losses, computed as set forth in this article.
(Enacted by Stats. 1935, Ch. 145.)
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.
