1152.106 – RESERVE LIABILITY FOR VARIABLE CONTRACT. The
Texas Insurance Code § 1152.106
Summary
This law requires that insurance companies establish reserve liabilities for variable contracts using actuarial methods that account for the variability of benefits and any mortality guarantees. It affects insurers offering variable contracts and ensures they maintain adequate reserves to meet their obligations.
Requires actuarial procedures for reserve liability calculation.
Considers the variable nature of benefits provided.
Includes mortality guarantees in reserve assessments.
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In simple terms: Learn about Texas's RESERVE LIABILITY FOR VARIABLE CONTRACT. The law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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