Rules & Regulations of the State of Tennessee
Title 0780 - Commerce and Insurance
Subtitle 0780-01 - Insurance Division
Chapter 0780-01-39 - Relating to Accounting for Salvage and Subrogation When Making Financial Statements to the Department of Commerce and Insurance
Section 0780-01-39-.01 - ACCOUNTING FOR SALVAGE AND SUBROGATION WHEN MAKING FINANCIAL REPORTING STATEMENTS TO THE DEPARTMENT OF INSURANCE

All domestic stock casualty, mutual casualty and reciprocal companies will report losses net of salvage and subrogation recoverable on paid and unpaid losses. Salvage and subrogation on paid and unpaid losses will not be included as admitted assets on any quarterly or annual financial statements until such salvage and subrogation has been reduced to cash or its equivalent.

Authority: T.C.A. § 56-1-501.