§ 116.8. Increased loss reserves and loss adjustment expense reserves.
The Commissioner may require an insurance company to maintain loss reserves at a greater level than those which result from the application of this chapter, and allocated loss adjustment expense reserves at a level greater than those calculated under § 116.6 (relating to reserves for loss adjustment expenses) when the Commissioner determines it is necessary to insure that reserves are established at an adequate level.
Authority The provisions of this § 116.8 amended under The Insurance Company Law of 1921 (40 P. S. § § 341—999); The Insurance Department Act of 1921 (40 P. S. § § 1—321); and sections 206, 506, 1501 and 1502 of The Administrative Code of 1929 (71 P. S. § § 66, 186, 411 and 412).
Source The provisions of this § 116.8 amended August 10, 2001, effective August 11, 2001, 31 Pa.B. 4423. Immediately preceding text appears at serial page (254697).
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