31 CFR 50.31 - Entities that do not share profits and losses with private sector insurers.

Regulations last checked for updates: Jun 06, 2023

Title 31 - Money and Finance: Treasury last revised: May 18, 2023

View all text of Subpart D [§ 50.30 - § 50.33]

§ 50.31 - Entities that do not share profits and losses with private sector insurers.

(a) Treatment. A state residual market insurance entity or a state workers' compensation fund that does not share profits and losses with a private sector insurer is deemed to be a separate insurer under the Program.

(b) Premium calculation. A state residual market insurance entity or a state workers' compensation fund that is deemed to be a separate insurer should follow the guidelines specified in § 50.4(h)(1) or (2) for the purposes of calculating the appropriate measure of direct earned premium.

authority: 5 U.S.C. 301; 31 U.S.C. 321; Title I, Pub. L. 107–297, 116 Stat. 2322, as amended by Pub. L. 109–144, 119 Stat. 2660, Pub. L. 110–160, 121 Stat. 1839, Pub. L. 114–1, 129 Stat. 3, and Pub. L. 116–94, 133 Stat. 2534 (15 U.S.C. 6701 note); Pub. L. 114–74, 129 Stat. 601, Title VII (28 U.S.C. 2461 note); Pub. L. 116–94, Div. I, Title V, § 501, 133 Stat. 3026

source: 81 FR 93765, Dec. 21, 2016, unless otherwise noted.

cite as: 31 CFR 50.31