S.D. Admin. R. 20:06:31:04.02

Current through Register Vol. 51, page 67, December 16, 2024

Section 20:06:31:04.02 - Trust liabilities

For purposes of SDCL 58-14-11 to 58-14-12.1, inclusive, and §§ 20:06:31:03 and 20:06:31:04.01, the term, liabilities, shall mean the assuming insurers gross liabilities attributable to reinsurance ceded by U.S. domiciled insurers excluding liabilities that are otherwise secured by acceptable means, and, shall include:

(1) Business ceded by domestic insurers authorized to write accident and health, and property and casualty insurance, including losses and allocated loss expenses paid by the ceding insurer, recoverable from the assuming insurer, reserves for losses reported and outstanding, reserves for losses incurred but not reported, reserves for allocated loss expenses, and unearned premiums.

(2) Business ceded by domestic insurers authorized to write life, health and annuity insurance, including aggregate reserves for life policies and contracts net of policy loans and net due and deferred premiums, aggregate reserves for accident and health policies, deposit funds and other liabilities without life or disability contingencies, and liabilities for policy and contract claims.

S.D. Admin. R. 20:06:31:04.02

44 SDR 71, effective 10/23/2017

General Authority: SDCL 58-14-17.

Law Implemented: SDCL 58-14-11, 58-14-13, 58-14-17, 58-14-20.