Iowa Admin. Code r. 191-5.6 - Treatment of various items on the financial statement
An admitted insurer shall at all times show the value of the following items on its financial statements in the following manner unless a different treatment is authorized by the state where the insurer is domiciled:
(1)
Real
estate. At amortized cost.
(2)
Stocks. At market value
as determined by the Securities Valuation Office of the National Association of
Insurance Commissioners.
(3)
Bonds. At amortized cost, unless directed otherwise by the
commissioner.
(4)
Artwork. Nonadmitted.
(5)
Other assets not listed.
As treated by the applicable accounting practices and procedures manual of the
National Association of Insurance Commissioners.
(6)
Liabilities.
Liabilities, including active life reserves, unearned premium reserves, and
liabilities for claims and losses unpaid and for incurred but not reported
claims. As determined by the applicable accounting practices and procedures
manual of the National Association of Insurance Commissioners.
Notes
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