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- Alaska Statutes.
- Title 21. Insurance
- Chapter 18. Assets and Liabilities
- Section 60. Unearned Premium Reserve.
previous: Section 50
. Reserves and Liabilities, in General.
next: Section 70
. Unearned Premium Reserve For Marine and Transportation Insurance.
AS 21.18.060. Unearned Premium Reserve.
- (a) Except as otherwise provided in AS 21.18.070
, an insurer shall maintain an unearned premium reserve on all policies in force against loss or damage to property,
including loss or damage under general casualty or surety insurance.
- (b) The director may require that the reserves be equal to the unearned portions of the gross premiums in force after
deducting applicable reinsurance in solvent insurers as computed on each respective risk from the policy's date of
- (c) An insurer shall compute all of the reserves on a monthly or more frequent pro rata basis.
- (d) After adopting a method for computing the reserve, an insurer may not change methods without approval of the
supervisory official of the insurer's state of domicile.
- (e) This section does not apply to title insurance.
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