§ 26-6-103 — Liabilities generally

Wyoming § 26-6-103

• Jurisdiction: Wyoming
• Title 26: Insurance Code
• Ch. 6: ASSETS AND LIABILITIES

Text

(a) In any determination of an insurer's financial
condition, capital stock and liabilities to be charged against
its assets include the capital stock and liability items set
forth in the most recent National Association of Insurance
Commissioners' accounting practices and procedures manual and
the following:
(i) The amount of its capital stock outstanding, if
any;
(ii) The amount, estimated consistent with this code,
necessary to pay all of its unpaid losses and claims incurred on
or prior to the date of statement together with the expenses of
adjustment or settlement thereof;
(iii) Concerning life insurance and annuity contracts
and disability and accidental death benefits in or supplemental
thereto:
(A) The amount of reserves on life insurance
policies and annuity contracts in force, valued according to the
mortality tables, rates of interest and methods adopted pursuant
to this code which are applicable thereto;
(B) Reserves for disability benefits for both
active and disabled lives;
(C) Reserves for accidental death benefits;
(D) Any additional reserves the commissioner
requires consistent with applicable customary and general
practice in insurance accounting.
(iv) Concerning disability insurance, the reserves
required under W.S. 26-6-107;
(v) Concerning insurance other than specified in
paragraphs (iii) and (iv) of this subsection, and other than
title insurance, the amount of reserves equal to the unearned
portions of the gross premiums charged on policies in force,
computed in accordance with this chapter;
(vi) Taxes, expenses and other obligations due or
accrued at the date of the statement.