Reserve Liabilities Regulation
- LIFE INSURANCE: specification by each state regarding the minimum assumptions that must be used in reserve calculations as theypertain to the maximum interest rate that can be assumed; the mortality table that can be used (the more conservative the table,the higher the death rates that will be shown that exceed the death rates actually expected); and (c) the reserve valuation that must beused (the minimum is established by the National Association of Insurance Commissioners' Standard Valuation Law).
- PROPERTY AND LIABILITY INSURANCE specification by each state regarding the minimum assumptions that must be used in reservecalculations as they pertain to unpaid loss reserves and unearned premium reserves.
Popular Insurance Terms
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State plans that provide health insurance coverage for those who are unable to purchase medical insurance. Coverage is provided by a specially formed nonprofit-making pool comprised of all ...
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Provision in a marine insurance policy in which agreement has been reached between the insured and the insurance company concerning the worth of the property that is to be covered under the ...
Bonds that are less than investment grade plus the bonds that are in or approaching default, which comprise part of the insurance company's investment bond portfolio. ...
State laws that prohibit for an unreasonable period of time the accumulation of income under the option modes of settlement of a life insurance policy unless the beneficiary of the policy ...
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