For purposes of 3 AAC 21.600 - 3 AAC 21.695, liabilities are the assuming insurer's gross obligations that are attributable to reinsurance ceded by United States domiciled insurers, and that are not otherwise secured to the ceding insurer by the types of collateralization listed in AS 21.12.020(c). Liabilities must include

1. (1) for business ceded by domestic insurers authorized to write accident and health insurance or property and casualty insurance,

   1. (A) losses and allocated loss expenses paid by the ceding insurer recoverable from the assuming insurer;
   2. (B) reserves for losses reported and outstanding;
   3. (C) reserves for losses incurred but not reported;
   4. (D) reserves for allocated loss expenses; and
   5. (E) unearned premiums;

2. (2) for business ceded by domestic insurers authorized to write life, health, and annuity insurance,

   1. (A) aggregate reserves for life policies and contracts net of policy loans and net due and deferred premiums;
   2. (B) aggregate reserves for accident and health policies;
   3. (C) deposit fund and other obligations without life or disability contingencies; and
   4. (D) obligations for policy and contract claims

(Eff. 11/21/2004, Register 172)

Authority: AS 21.06.090, AS 21.12.020