Download The Insurance Year Book Volume 40

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Download The Insurance Year Book Volume 40

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This historic book might have quite a few typos and lacking textual content. Purchasers can download a free scanned copy of the unique book (with out typos) from the writer. Not listed. Not illustrated. 1912 Excerpt: …with the Insurance Commissioner a licensed copy of constitution or deed of settlement, and a press release of monetary situation and business on December 31 previous. Designation of Insurance Commissioner, or his successor, as lawyer for service of authorized course of. Certificates of valuation of insurance policies. (Life and legal responsibility corporations solely.) Certificates of compliance with legal guidelines of house State. Certificates by correct officer of house State that capital inventory is enough and that required deposits have been made. Publication.–Annual assertion to be revealed in a day by day or weekly newspaper of basic circulation at company's expense and file copy of paper with Insurance Commissioner inside thirty days from date of license. Rebates.–Prohibited. Reciprocal Regulation.–Similar deposits, charges, and so on., required of different States bjr this State, as such different State requires of company this State. Removing Of Fits.–From State to United States courts not allowed. Reserve For Reinsurance, Technique Of Calculation.–To find out the legal responsibility upon the contracts of an insurance coverage company aside from life, the Insurance Commissioner shall require such corporations to cost as a legal responsibility for reinsurance of excellent insurance policies fifty per cent of the premiums acquired on insurance policies or dangers having not multiple year to run, and a professional rata of all premiums acquired on insurance policies or dangers having multiple year to run, and within the case of corporations doing a legal responsibility insurance coverage a further reserve fund shall be charged, and generally known as "legal responsibility reserve," to an quantity not lower than $300 for every go well with pending towards such company's policyholders for which it could also be liable within the decrease courtroom, and $seven hundred further when such go well with is appealed by the defendant to greater courtroom. The Insurance Commissione…

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