11 CRR-NY 63.2NY-CRR
STATE COMPILATION OF CODES, RULES AND REGULATIONS OF THE STATE OF NEW YORK
TITLE 11. INSURANCE
CHAPTER III. POLICY AND CERTIFICATE PROVISIONS
SUBCHAPTER B. PROPERTY AND CASUALTY INSURANCE
PART 63. RESERVE REQUIREMENTS FOR FINANCIAL GUARANTY INSURANCE IN-FORCE PRIOR TO THE EFFECTIVE DATE OF ARTICLE 69 OF THE INSURANCE LAW
11 CRR-NY 63.2
11 CRR-NY 63.2
63.2 Reserve requirements for financial guaranties written prior to and in force as of July 1, 1989 for financial guaranty insurance corporations authorized pursuant to section 6902 of the Insurance Law.
An authorized insurer that wrote financial guaranty insurance prior to May 14, 1989, and which is authorized to write financial guaranty insurance in this State pursuant to section 6902 of the Insurance Law, shall, for all such insurance written prior to and in force as of July 1, 1989, be subject to the following reserve requirements:
(a) Contingency reserve.
A contingency reserve shall be established in accordance with the requirements set forth in section 63.1(a) of this Part.
(b) Loss and loss adjustment expense reserve.
The reserve for loss and loss adjustment expenses shall be established in accordance with the requirements set forth in section 6903(b) of the Insurance Law.
(c) Unearned premium reserve.
The reserve for unearned premiums shall be established in accordance with the requirements set forth in section 6903(c) of the Insurance Law.
11 CRR-NY 63.2
Current through May 31, 2021
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IMPORTANT NOTE REGARDING CONTENT CURRENCY: JULY 31, 2023, is the date of the most recently produced official NYCRR supplement covering this rule section. For later updates to this section, if any, please: consult editions of the NYS Register published after this date; or contact the NYS Department of State Division of Admisnistrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of the NYS Rules.