RCW 48.12.090
Loss reserves—Liability insurance.
The reserves for outstanding losses and loss expenses under policies of personal injury liability insurance and under policies of employer's liability insurance shall be computed as follows:
(1) The reserves for outstanding losses and loss expenses under policies of personal injury liability insurance and under policies of employer's liability insurance shall be computed in accordance with accepted loss-reserving standards and principles and shall make a reasonable provision for all unpaid loss and loss expense obligations of the insurer under the terms of such policies.
(2) Reserves under liability policies written during the three years immediately preceding the date of determination shall include any additional reserves required by the annual statement instructions of the national association of insurance commissioners.
[ 1995 c 35 § 2; 1947 c 79 § .12.09; Rem. Supp. 1947 § 45.12.09.]
Structure Revised Code of Washington
Chapter 48.12 - Assets and Liabilities.
48.12.020 - Nonallowable assets.
48.12.040 - Unearned premium reserve, property, casualty, and surety insurance.
48.12.050 - Unearned premium reserve, marine and transportation insurance.
48.12.060 - Reserve—Disability insurance.
48.12.080 - Increased reserves.
48.12.090 - Loss reserves—Liability insurance.
48.12.100 - Unallocated liability loss expense.
48.12.110 - Schedule of experience.
48.12.140 - "Loss payments," "loss expense" defined.
48.12.170 - Valuation of bonds.
48.12.180 - Valuation of stocks.
48.12.190 - Valuation of property.
48.12.200 - Valuation of purchase money mortgages.
48.12.400 - Purpose—Intent—Declaration.
48.12.405 - Domestic ceding insurer—Asset or reduction from liability—Requirements.
48.12.410 - Assuming insurer—Licensed.
48.12.415 - Accredited as reinsurer—Assuming insurer—Requirements.
48.12.420 - Assuming insurer—Domiciled in this state or state with similar statutes.
48.12.425 - Assuming insurer maintains a trust fund—Payment of valid claims—Requirements.
48.12.435 - Assuming insurer not meeting certain requirements—Credit restricted.
48.12.440 - Assuming insurer not licensed, accredited, or certified—No credit—Exceptions.
48.12.455 - Ceding insurer—Reinsurance program.
48.12.462 - Reinsurance ceded to an assuming insurer—Reciprocal jurisdictions—Commissioner's duties.
48.12.464 - Reinsurance agreements—Commissioner may adopt rules.
48.12.465 - Definitions—Apply to RCW 48.12.460(3).
48.12.470 - Credit for reinsurance—Accounting or financial statement—After December 31, 1996.
48.12.475 - Assuming alien reinsurer—Registration—Requirements—Duties of commissioner—Costs.