For all health insurance policies the insurer shall maintain an active life reserve and an actuarially determined claim reserve for unaccrued benefits which shall place a sound value on its liabilities under such policies and be not less than the reserve according to appropriate standards set forth in regulations issued by the commissioner and in no event less in the aggregate than the pro rata gross unearned premiums for such policies.
KRS 304.6-070
Health insurance policy reserves
Known as the Standard Valuation Law
The act spans §§ 304–304 (30 sections).
Effective: July 15, 2010 History: Amended 2010 Ky
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.