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§ 500.715 — Michigan Law | CourtGPT
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  2. Laws/
  3. Michigan/
  4. Chapter 500 - Insurance Code of 1956act 218 of 1956 - the Insurance Code of 1956 (500.100 - 500.8302)218-1956-1 -/
  5. Statute Act 218 of 1956/
  6. Division 218 1956 7/
  7. § 500.715
Michigan Legal Code

§ 500.715

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500.715 Premium reserves; computation. Sec. 715. The insurer may employ suitable approximations and estimates in computing premium reserves including, but not limited to, groupings, averages, and aggregate estimation. The insurer should test periodically the approximations or estimates to determine their continuing adequacy and reliability. History: Add. 1994, Act 148, Imd. Eff. June 7, 1994 Popular Name: Act 218