N.Y. Comp. Codes R. & Regs. tit. 11, § 63.2 – Reserve requirements for financial guaranties written prior to and in force as of July 1, 1989 for financial guaranty insurance corporations authorized pursuant to section 6902 of the Insurance Law.

An authorized insurer that wrote financial guaranty insurance prior to May 14, 1989, and which is authorized to write financial guaranty insurance in this State pursuant to section 6902 of the Insurance Law, shall, for all such insurance written prior to and in force as of July 1, 1989, be subject to the following reserve requirements:

(a) Contingency reserve.

A contingency reserve shall be established in accordance with the requirements set forth in section 63.1(a) of this Part.

(b) Loss and loss adjustment expense reserve.

The reserve for loss and loss adjustment expenses shall be established in accordance with the requirements set forth in section 6903(b) of the Insurance Law.

The reserve for unearned premiums shall be established in accordance with the requirements set forth in section 6903(c) of the Insurance Law.