Part 1 — Licensing of Insurers and Reciprocal Insurance Exchanges Subpart 1 Licensing of Insurers Insurer's Duty to be Licensed
99 Amount of reserve
principal attorney as a reserve fund a sum in cash, approved
securities or other prescribed assets equal to an amount calculated
in accordance with the following formula:
(50% of (A-B)) + (C-D)
where
A is the amount of premiums collected or credited to the
accounts of subscribers on reciprocal contracts in force
having one year or less to run;
B is the amount paid to licensed insurers to reinsure the
reciprocal contracts referred to in A;
C is the amount of premiums collected or credited to the
accounts of subscribers on reciprocal contracts in force that
have more than one year to run less the amount of those
premiums that is attributable to the expired portion of the
contracts;
D is the amount paid to licensed insurers to reinsure the
reciprocal contacts referred to in C less the amount that is
attributable to the expired portion of the reinsurance
contracts.
RSA 2000 cI-3 s99;2013 c18 s6