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What Does Reserve Mean In Insurance?

January 24, 2024 by Ahmed Ali

What Does Reserve Mean In Insurance? A claims reserve is a reserve of money that is set aside by an insurance company in order to pay policyholders who have filed or are expected to file legitimate claims on their policies. Insurers use the fund to pay out incurred claims that have yet to be settled.

What Do You Mean By Statutory Reserve Of A Banking Company?

January 24, 2024 by Rachel Ostrander

What Do You Mean By Statutory Reserve Of A Banking Company? Statutory reserves are the minimum amounts of cash and readily marketable securities that insurance companies must hold. They are mandated under state insurance regulations. Insurance companies are free to set their statutory reserves above the minimum level, using a principles-based approach. What is statutory