48.12.050 - Unearned premium reserve, marine and transportation insurance. - Washington Statutes

Unearned premium reserve, marine and transportation insurance.

With reference to marine and transportation insurances, premiums on trip risks not terminated shall be deemed unearned and the commissioner may require the insurer to carry a reserve thereon equal to one hundred percent on trip risks written during the month ended as of the date of statement; and computed upon a pro rata basis or, with the commissioner's consent, in accordance with the alternative methods provided in RCW 48.12.040 for all other risks.

[1947 c 79 § .12.05; Rem. Supp. 1947 § 45.12.05.]