N.Y. Comp. Codes R. & Regs. tit. 16 § 197.13

Current through Register Vol. 46, No. 50, December 11, 2024

Section 197.13 - Insurance

(a) The amount of insurance premiums paid in advance shall be included in the appropriate subdivision of account 128, Prepayments, and equitably distributed to the appropriate accounts during the period to which the premiums relate (except minor premiums which may be charged direct, and premiums chargeable to construction).

(b) If the utility does not carry full insurance, monthly charges may be made to account 783.1, Insurance, account 783.2, Injuries and Damages, or other appropriate account, with concurrent credits to account 264, Insurance Reserve, or account 265, Injuries and Damage Reserve, to maintain reserves to cover losses against which the utility is not otherwise insured. (See also § 197.33.)

N.Y. Comp. Codes R. & Regs. Tit. 16 § 197.13