N.Y. Comp. Codes R. & Regs. tit. 9 § 1642-3.11
All transactions relating to account 1211, Prepaid Insurance, and account 1212, Anticipated Returnable Premiums, shall be recorded in an insurance ledger. The insurance ledger shall not only serve as a systematic record of all essential details relating to insurance coverage as evidenced by insurance policies, but also shall serve as a subsidiary ledger supporting and controlled by the aforesaid general ledger prepaid insurance accounts and as a medium for the accumulation of the quarterly charges resulting from the straightline distribution of the premiums charged to account 1211 over the lives of the policies. The charges accumulated for the respective quarters are then distributed to the various cost and expense accounts at the end of each quarter by means of a journal voucher. Stock forms of insurance ledgers having a limited number of columns for the monthly distribution are generally available. Flysheets may be used for additional months or new forms may be established each year periodically as required. Regardless of the form used, the insurance ledger shall show the kind of insurance, the name of the insurer and broker, the policy number, description of coverage, amount and extent of coverage, effective date of the policy, the expiration date, the premium paid, the anticipated return premium, if any, the amount to be charged quarterly to development cost or operating expense, and the numbers and dates of the vouchers supporting the entries. A specimen form of insurance ledger reflecting these requirements is shown as Exhibit 18 of Appendix S-8. By a proper use of columns (10), (11), (13), and (14) to record the periodic write-offs, return premiums received, adjustments in return premiums and premium requirements, etc., column (2) being used for an explanation of the transaction, it is apparent that the totals of columns (13) and (14) will always agree with the balances of account 1212, Anticipated Returnable Premiums, and account 1211, Prepaid Insurance, the general ledger controls, respectively.
N.Y. Comp. Codes R. & Regs. Tit. 9 § 1642-3.11