38 CFR 9.12 - Reinsurance formula.

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There are 2 Updates appearing in the Federal Register for 38 CFR 9. View below or at eCFR (GPOAccess)
§ 9.12 Reinsurance formula.
The allocation of insurance to the insurer and each reinsurer will be based upon the following:
(a) An amount of the total life insurance in force under the policy in proportion to the company's total life insurance in force in the United States where:
The first $100 million in force is counted in full,
The second $100 million in force is counted at 75 percent,
The third $100 million in force is counted at 50 percent,
The fourth $100 million in force is counted at 25 percent,
And any amount above $400 million in force is counted at 5 percent.
(b) The allocation will be redetermined at the beginning of each policy year for the primary insurer and the companies then reinsuring, with the portion as set forth in paragraph (a) of this section based upon the corresponding in force (excluding the Servicemembers' Group Life Insurance in force) as of the preceding December 31.
(c) Any life insurance company, which is not initially participating in reinsurance or conversions, but satisfies the criteria set forth in § 9.11, may subsequently apply to the primary insurer to reinsure and convert, or to convert only. The participation of such company will be effective as of the beginning of the policy year following the date on which application is approved by the insurer.
[40 FR 4135, Jan. 28, 1975. Redesignated and amended at 61 FR 20135, 20136, May 6, 1996]

Title 38 published on 2013-07-01

The following are only the Rules published in the Federal Register after the published date of Title 38.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2014-08-15; vol. 79 # 158 - Friday, August 15, 2014
    1. 79 FR 48071 - Servicemembers' Group Life Insurance and Veterans' Group Life Insurance Information Access
      GPO FDSys XML | Text
      DEPARTMENT OF VETERANS AFFAIRS
      Final rule.
      Effective Date: This rule is effective September 15, 2014.
      38 CFR Part 9

Title 38 published on 2013-07-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 38 CFR 9 after this date.

  • 2014-08-15; vol. 79 # 158 - Friday, August 15, 2014
    1. 79 FR 48071 - Servicemembers' Group Life Insurance and Veterans' Group Life Insurance Information Access
      GPO FDSys XML | Text
      DEPARTMENT OF VETERANS AFFAIRS
      Final rule.
      Effective Date: This rule is effective September 15, 2014.
      38 CFR Part 9