New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter IV - Financial Condition Of Insurer and Reports to Superintendent
Subchapter B - Life Insurers
Part 94 - Valuation Of Individual And Group Accident And Health Insurance Reserves
Section 94.11 - Grading to higher reserves
Universal Citation: 11 NY Comp Codes Rules and Regs ยง 94.11
Current through Register Vol. 46, No. 39, September 25, 2024
Where the requirements of this Part produce higher reserves than those calculated for the 2002 year-end valuation, the insurer may linearly interpolate between the higher reserves required by this Part and the lower reserves based on the standards used for 2002 year-end as follows:
(a) 25 percent and 75 percent, respectively, starting with year-end 2003;
(b) 50 percent and 50 percent, respectively, starting with year-end 2004;
(c) 75 percent and 25 percent, respectively, starting with year-end 2005; and
(d) the insurer shall hold the full amount of such higher reserves starting with year-end 2006.
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