11 N.C. Admin. Code 16.0701

Current through Register Vol. 39, No. 12, December 1, 2024

Section 16 .0701 - DEFINITIONS

As used in this Section:

(1) "Claim reserves" means reserves or liabilities held for claims incurred on or before the valuation date, but unpaid as of the valuation date. Claim reserves include both reported and unreported claims. Claim reserves are established for both accrued and unaccrued benefits.

(2) "Valuation date" means the date at which reserves are estimated.

11 N.C. Admin. Code 16 .0701

Authority G.S. 58-2-40; 58-67-135(b);
Eff. February 1, 1995;
Readopted Eff. October 1, 2018.

Authority G.S. 58-2-40; 58-67-135(b);
Eff. February 1, 1995.

Readopted by North Carolina Register Volume 33, Issue 09, November 1, 2018 effective 10/1/2018.