Existing law requires the Insurance Commissioner to promulgate regulations for the computation of the amount of reserves to be maintained by each insurer transacting business in this state. Under existing law, the minimum reserve requirement prescribed by the commissioner pursuant to those regulations cannot be less than 60% of certain liability insurers' earned premiums during each year less the amount already paid for related incidental losses and expenses, as specified.
California AB 2002 (20092010) — Reserve requirements.
Existing law requires the Insurance Commissioner to promulgate regulations for the computation of the amount of reserves to be maintained by each insurer transacting business in this state. Under existing law, the minimum reserve requirement prescribed by the commissioner pursuant to those regulations cannot be less than 60% of certain liability insurers' earned premiums during each year less the amount already paid for related incidental losses and expenses, as specified.
Version chain
The bill's text revisions, in order — the diff chain from filing to enrollment.