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Washington Administrative Code (Last Updated: November 23, 2016) |
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Title 284. Insurance Commissioner, Office of |
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Chapter 284-13. Assets—Liabilities—Investments and reinsurance. |
Section 284-13-536. Credit for reinsurance—Certain reinsurers maintaining trust funds—Liabilities defined.
Latest version.
- For purposes of WAC 284-13-520 through 284-13-538, liabilities means the assuming insurer's gross liabilities attributable to reinsurance ceded by United States domiciled insurers excluding liabilities that are not otherwise secured by acceptable means, and, must include:(1) For business ceded by domestic insurers authorized to write accident and disability, and property and casualty insurance:(a) Losses and allocated loss expenses paid by the ceding insurer, recoverable from the assuming insurer;(b) Reserves for losses reported and outstanding;(c) Reserves for losses incurred but not reported;(d) Reserves for allocated loss expenses; and(e) Unearned premiums.(2) For business ceded by domestic insurers authorized to write life, disability and annuity insurance:(a) Aggregate reserves for life policies and contracts net of policy loans and net due and deferred premiums;(b) Aggregate reserves for accident and disability policies;(c) Deposit funds and other liabilities without life or disability contingencies; and(d) Liabilities for policy and contract claims.
Rules
284-13-520,284-13-538,