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2025 Virgin Islands Code
Title 22 - Insurance
Chapter 21 - Assets and Liabilities
§ 505. Unearned premium reserve, marine and transportation insurance
Universal Citation:
V.I. Code tit. 22, § 505 (2025)
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With reference to marine and transportation insurance, premiums on trip risks not terminated shall be deemed unearned and the Commissioner may require the insurer to carry a reserve thereon equal to 100 percent on trip risks written during the month ended as of the date of statement and computed upon a pro rata basis or, with the Commissioner's consent, in accordance with the alternative methods provided in section 504 of this title for all other risks.
History
—Added Mar. 29, 1968, No. 2126, § 1, Sess. L. 1968, Pt. I, p. 52.
Annotations
State Notes
Research References & Practice Aids
Hierarchy Notes:22 V.I.C.
22 V.I.C. Ch. 21
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