20-516. Reserve standards
69 words·~1 min read·
/az/title-20/20-516A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
An insurer shall maintain reserves that place a sound value on its liabilities under its policies, annuities and subscriber contracts. The reserves shall not be less than the amount, estimated and consistent with the provisions of this title, necessary to assure payment of the insurer's unpaid policyholder and contract holder obligations, whether those obligations are reported or reported together with the expenses of adjustment or settlement of the obligations.