Sec. 38a-80. (Formerly Sec. 38-164). Premium reserve for health, accident and liability business.
Sec. 38a-80. (Formerly Sec. 38-164). Premium reserve for health, accident and
liability business. Each domestic, foreign and alien insurance company which, in this
state, makes insurance upon the health of individuals or which, in this state, insures
persons against bodily injury or death by accident, or any person, firm or corporation
against loss or damage on account of the bodily injury or death by accident of any person
for which loss or damage such person, firm or corporation is responsible, shall maintain
a premium reserve on all such policies in force, whether issued in this state or elsewhere,
calculated in accordance with the accounting requirements of the National Association
of Insurance Commissioners Accounting Practices and Procedures Manual, version effective January 1, 2001, and subsequent revisions.
(1949 Rev., S. 6176; P.A. 90-243, S. 67; P.A. 00-30, S. 5, 14.)
History: P.A. 90-243 substituted "foreign" for "nonresident" and "alien" for "foreign" insurance companies; Sec. 38-164 transferred to Sec. 38a-80 in 1991; P.A. 00-30 substituted "calculated in accordance with the accounting requirements
of the National Association of Insurance Commissioners Accounting Practices and Procedures Manual, version effective
January 1, 2001, and subsequent revisions" for "equal to the unearned portion of the gross premiums charged for covering
the risks", effective January 1, 2001.
See Secs. 38a-199 to 38a-209, inclusive, re hospital service corporations.
See Secs. 38a-214 to 38a-225, inclusive, re medical service corporations.