§ 5-203
76 words·~1 min read·
/md/insurance/5-203A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§5–203.
(a)An insurer shall maintain active life reserves for all health insurance policies.
(b)The active life reserves:
(1)shall place a sound value on the insurer’s liabilities under the health insurance policies;
(2)may not be less than the reserves required by the appropriate standards set forth in regulations that the Commissioner adopts; and
(3)in the aggregate, may not be less than the pro rata gross unearned premiums for the health insurance policies.