California Insurance Code

§ 10236.14

INS § 10236.14 Effective Jan 1, 2017Div. 2 · Part 2 · Ch. 2.6 · Art. 4

Statute text

Approval of all premium rate schedule increases shall be subject to the following requirements:

(a)(1) Premium rate schedule increases shall demonstrate that the sum of the accumulated value of incurred claims, without the inclusion of active life reserves, and the present value of future projected incurred claims, without the inclusion of active life reserves, will not be less than the sum of the following:

(A)The accumulated value of the initial earned premium times the maximum of both of the following:

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Legislative history

Amended by Stats. 2016, Ch. 304, Sec. 16. (AB 2884) Effective January 1, 2017.