true reserves
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 311 U.S. 267 - Helvering v. Oregon Mutual Life Insurance · 1940Most cited · 131 citing opinions
The liability to those who have incurred disability is not a fixed sum, but remains a contingency, still uncertain in duration and amount. Reserves held for such a contingent liability are true reserves in the insurance sense.