§2887. Legal services insurance policy reserves
For all legal services insurance policies, the insurer shall establish and maintain thereon a reserve which shall place a sound value on its liabilities under those policies and be not less than the reserve according to appropriate standards set forth in rules issued by the superintendent and, in no event, less in the aggregate than the pro rata gross unearned premiums for those policies. [PL 1983, c. 801, §11 (NEW).]
SECTION HISTORY
PL 1983, c. 801, §11 (NEW).
Structure Maine Revised Statutes
TITLE 24-A: MAINE INSURANCE CODE
Chapter 38: GROUP LEGAL SERVICES INSURANCE
24-A §2881. Exemption from chapter
24-A §2882. Insurers authorized to sell legal services insurance
24-A §2883. Legal services insurance defined
24-A §2884. Legal services insurance authorized to be sold on a group basis
24-A §2885. Filing of group manual rates for informational purposes
24-A §2886. Freedom of selection of attorney
24-A §2887. Legal services insurance policy reserves
24-A §2888. Authority of superintendent to adopt additional rules