Tennessee § 56-23-103 Ceding insurers credited pro rata unearned premium liability

Tennessee Statutes

§ 56-23-103 — Ceding insurers credited pro rata unearned premium liability

Tennessee § 56-23-103

Title56

This text of Tennessee § 56-23-103 (Ceding insurers credited pro rata unearned premium liability) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 56-23-103 (2026).

Text

For the purpose of determining the financial condition of a ceding insurer, only if the reinsurance is effected by the ceding insurer in any assuming insurer authorized to do such business in this state, or in any other state of the United States or the District of Columbia, the ceding insurer shall, in addition to any credit allowed against its loss reserves, receive credit for the reinsurance by way of deduction from its unearned premium liability, which liability shall be equal to the unearned portions of the gross premiums charged on unexpired or unterminated risks and policies.

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For the purpose of determining the financial condition of a ceding insurer, only if the reinsurance is effected by the ceding insurer in any assuming insurer authorized to do such business in this state, or in any other state of the United States or the District of Columbia, the ceding insurer shall, in addition to any credit allowed against its loss reserves, receive credit for the reinsurance by way of deduction from its unearned premium liability, which liability shall be equal to the unearned portions of the gross premiums charged on unexpired or unterminated risks and policies.