Section 27-36-4 Unearned Premium Reserve - Marine and Transportation Insurance.
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/al/title-27-insurance/chapter-36-liabilities/27-36-4·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
As to marine and transportation insurance, the entire amount of premiums on trip risks not terminated shall be deemed unearned, and the commissioner may require the insurer to carry a reserve equal to 100 percent of premiums on trip risks written during the month ended as of the date of statement.