Arizona § 20-1556.01 Premium deficiency reserve

Arizona Statutes

§ 20-1556.01 — Premium deficiency reserve

Arizona § 20-1556.01

Title 20Arizona Revised Statutes

Ch. 6PARTICULAR TYPES OF INSURANCE

Art. 8.Mortgage Guaranty Insurance

This text of Arizona § 20-1556.01 (Premium deficiency reserve) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 20-1556.01 (2026).

Text

If the mortgage guaranty insurance company's anticipated losses, loss adjustment expenses, commissions and other acquisition costs and maintenance costs are more than the recorded unearned premium reserve, contingency reserve and estimated future renewal premiums on existing policies, the company shall establish a premium deficiency reserve by recording an additional liability for the deficiency according to the accounting practices and procedures manual adopted by the national association of insurance commissioners.

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If the mortgage guaranty insurance company's anticipated losses, loss adjustment expenses, commissions and other acquisition costs and maintenance costs are more than the recorded unearned premium reserve, contingency reserve and estimated future renewal premiums on existing policies, the company shall establish a premium deficiency reserve by recording an additional liability for the deficiency according to the accounting practices and procedures manual adopted by the national association of insurance commissioners.