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- Alaska Statutes.
- Title 21. Insurance
- Chapter 18. Assets and Liabilities
- Section 80. Reserve Standards For Health Insurance.
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Section 75. Bail Bond Reserve.
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Section 82. Policy Reserves For Health Insurance.
AS 21.18.080. Reserve Standards For Health Insurance.
(a) The adequacy of health insurance reserves must be determined based on the sum of policy reserves determined under AS
21.18.082, claim reserves determined under AS 21.18.084, and premium reserves determined under AS 21.18.086.
(b) Reserve adequacy must be determined by a prospective gross premium valuation. For policies in force, in a claims
status, or in a continuation of benefits status on the valuation date, the gross premium valuation must take into
account the present value of all expected benefits unpaid, all expected expenses unpaid, and all unearned or expected
premiums, including expected future premium increases.
(c) A gross premium valuation must be performed whenever there is an indication that reserves and future premiums may be
insufficient to cover future claims for a particular block of policies or for the entire health insurance block. If a
reserve inadequacy is determined to exist, the loss must be immediately recognized and reserves increased to account
for the inadequacy. The increased reserves will be considered minimum reserves.
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