New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter IV - Financial Condition Of Insurer and Reports to Superintendent
Subchapter C - Fire, Marine, Casualty And Surety Insurers
Part 109 - Allocation Of Salaries And Other Expenses
Section 109.2 - General procedures in allocating salaries
Universal Citation: 11 NY Comp Codes Rules and Regs ยง 109.2
Current through Register Vol. 46, No. 39, September 25, 2024
(a) Direct allocations. Wherever possible, salaries of individuals or similarly employed groups shall be allocated direct to companies, expense groups and primary lines of business. In other words, salaries of employees whose work is solely in connection with a specific company, expense group or primary line of business shall be allocated thereto.
(b) Allocations other than direct.
(1) When a direct allocation is not
made, salaries, with certain exceptions hereinafter noted, shall be allocated
on whichever of the following bases, or combinations thereof, are appropriate:
Number of items or units
Time studies
Overhead on other allocations
Premiums
Dollar volume of losses
Other special studies
(2) The effects of the application to each
operating expense classification of all bases of allocation shall be shown on
records kept in clear and legible form. Such records shall be readily available
for examination.
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