North Dakota Administrative Code
Title 45 - Insurance, Commissioner of
Article 45-06 - Accident and Health Insurance
Chapter 45-06-14 - Multiple Employer Welfare Arrangements
Section 45-06-14-12 - Reserves
Universal Citation: ND Admin Code ยง 45-06-14-12
Current through Supplement No. 394, October, 2024
A multiple employer welfare arrangement must establish reserves for all incurred losses, both reported and unreported, and for unearned premiums. To the extent that the amount of a loss is uncertain, the reserve must be set conservatively and adjusted as new information becomes available. Accounting for reserves must be as required by the financial statement forms and instructions under subsection 2 of section 45-06-14-16.
General Authority: NDCC 28-32-02
Law Implemented: NDCC 26.1-01-07.4, 26.1-07.1
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