§ 5-202. Inadequate reserves of insurer

Latest version.

(a) Unearned premium reserve. -- If the Commissioner determines that an insurer's unearned premium reserve is inadequate, the Commissioner may require the insurer to increase the unearned premium reserve and maintain it at an adequate level.

(b) Loss reserves. -- If the Commissioner determines that an insurer's loss reserves are inadequate as shown by the insurer's loss experience, the Commissioner shall require the insurer to increase the reserves and maintain them at an adequate level.

HISTORY: An. Code 1957, art. 48A, § 82; 1995, ch. 36; 1997, ch. 274.

                    
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