New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter VII - Credit And Creditor Insurance
Part 187 - Credit Unemployment Insurance
Section 187.11 - Experience statistics

Universal Citation: 11 NY Comp Codes Rules and Regs ยง 187.11

Current through Register Vol. 46, No. 39, September 25, 2024

(a) Each insurer writing credit unemployment insurance shall maintain statistics for credit unemployment insurance, subject to call by the Superintendent of Insurance from time to time, on a policy-year basis, or calendar-year basis at the option of the insurer, for group policies and on a calendar-year basis for individual policies, separately for direct business and reinsurance assumed:

(1) gross premiums received;

(2) refunds of premium on terminated insurance;

(3) increase in unearned premium reserve;

(4) earned premiums;

(5) interest required on advance premiums and/or any active life reserves;

(6) number and amount of claims paid;

(7) increase in claim reserve;

(8) claims incurred;

(9) reserve increases other than paragraphs (3) and (7) of this subdivision;

(10) commissions;

(11) fees and other allowances;

(12) dividends and experience rating refunds;

(13) mean amount of insurance in force;

(14) mean number of individual policies in force during the calendar year; and

(15) number of claims on which first payment for any claim was made during the calendar year. Statistics shall be maintained in the same categories as indicated in paragraphs (1) through (12) of this subdivision for reinsurance ceded.

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