La. Admin. Code tit. 37 § XIII-19301

Current through Register Vol. 50, No. 11, November 20, 2024
Section XIII-19301 - Definitions
A. When used in this regulation, the following words or terms shall have the following meaning.

Contingent Liability-the amount that a group self-insurance fund may be obligated to pay in excess of a given fund year's normal premium collected or on hand.

Department-the Louisiana Department of Insurance.

Group Self-Insurance Fund or Fund-employers who enter into agreements to pool their automobile liabilities for timber transportation vehicles, agriculture transportation vehicles, or a combination of both types of vehicles in accordance with Louisiana Revised Statutes 3:4351.2.

Members Distribution Payable/Surplus-assets of a group self-insurance fund in excess of loss reserves, actual and contingent liabilities and loss development reserves in all fund years.

Surplus-assets of a group self-insurance fund in excess of loss reserves, actual and contingent liabilities and loss development reserves in all fund years.

La. Admin. Code tit. 37, § XIII-19301

Promulgated by the Department of Insurance, Office of the Commissioner, LR 491411 (8/1/2023).
AUTHORITY NOTE: Promulgated in accordance with R.S. 3:4351.9(D).