HRS §431:5-302
Reserve rules for marine and transportation trip insurance
This section says that premiums for marine and transportation insurance on trip risks that are not ended are considered unearned. The insurance commissioner can require the insurer to keep a reserve equal to the full amount of those premiums, calculated either on a pro rata basis or, with approval, using other allowed methods.
The statute, as written — Unearned premium reserve for marine and transportation
Marine and transportation insurance policy premiums on trip risks not terminated shall be deemed unearned. The commissioner may require the insurer to carry a reserve equal to one hundred per cent on trip risks written during the month ended as of the date of statement, and: (1) Computed upon a pro rata basis; or (2) With the commissioner's consent, in accordance with the alternative methods provided in section 431:5-301(c) and section 431:5-301(d).
Sections this one refers to
§431:5-301 Keeping reserve funds for insurance policies
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