District of Columbia § 31-2502.12 Limitations on exposure to risks or hazards.

District of Columbia Statutes

§ 31-2502.12 — Limitations on exposure to risks or hazards.

District of Columbia § 31-2502.12

Title 31Insurance and Securities.

Ch. 25Fire, Casualty, and Marine Insurance.

Subch. IIPowers and Duties of the Commissioner.

This text of District of Columbia § 31-2502.12 (Limitations on exposure to risks or hazards.) is published on Counsel Stack Legal Research, covering District of Columbia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

D.C. Code § 31-2502.12 (2026).

Text

No company other than a mutual or reciprocal company doing business in the District shall expose itself to any loss on any one risk or hazard, whether located in the District or outside of the District, to an amount exceeding 10% of the sum of its capital stock and surplus. No mutual or reciprocal company shall expose itself to any loss on any one risk or hazard, whether located in the District or outside of the District, to an amount exceeding 10% of its surplus. No portion of any such risk or hazard which shall have been reinsured in a company authorized to do business in the District shall be included in determining limitation of risk; provided, that the provisions of this section shall not apply to the insurance of workmen’s compensation, employers’ liability, marine, or inland marine 

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No company other than a mutual or reciprocal company doing business in the District shall expose itself to any loss on any one risk or hazard, whether located in the District or outside of the District, to an amount exceeding 10% of the sum of its capital stock and surplus. No mutual or reciprocal company shall expose itself to any loss on any one risk or hazard, whether located in the District or outside of the District, to an amount exceeding 10% of its surplus. No portion of any such risk or hazard which shall have been reinsured in a company authorized to do business in the District shall be included in determining limitation of risk; provided, that the provisions of this section shall not apply to the insurance of workmen’s compensation, employers’ liability, marine, or inland marine risks.

Legislative History

Oct. 9, 1940, 54 Stat. 1070, ch. 792, ch. II, § 12; Apr. 26, 1994, D.C. Law 10-103, § 3, 41 DCR 1005; Mar. 8, 2007, D.C. Law 16-232, § 202(b), 54 DCR 368