§ 115. Power of insurance commissioner to fix amount of reserves
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 40 P.S. Insurance
40 P.S. § 115
§ 115. Power of insurance commissioner to fix amount of reserves
Whenever, in the judgment of the Insurance Commissioner, the loss reserves of any insurer under his supervision, calculated in accordance with the foregoing provisions, are inadequate, he may, in his discretion, require such insurer to maintain additional reserves based upon estimated individual claims or otherwise; or whenever a satisfactory mathematical or actuarial table for valuing compensation loss reserves is promulgated and approved by the Insurance Commissioner, he may require any insurer under his supervision to maintain, upon such tabular basis, greater or lesser reserves than those hereinbefore provided for.
Credits
1921, May 17, P.L. 789, art. III, § 316. Amended 1992, Dec. 18, P.L. 1496, No. 177, § 9, effective in 120 days.
40 P.S. § 115, PA ST 40 P.S. § 115
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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