17:47-8 - Exposure to loss limited
17:47-8.Ā Exposure to loss limited
No association of underwriters authorized hereunder to do business in this state shall expose themselves to loss on any one risk in excess of ten per centĀ of their net cash and invested assets and of the underwriting liability of theĀ individual underwriters.Ā So much, however, of any risk as shall be reinsuredĀ in an association of underwriters or insurance corporation lawfully transactingĀ business in this state, shall not be considered part of the risk.
Ā
No association of underwriters authorized hereunder to do business in this state shall expose themselves to loss on any one risk in excess of ten per centĀ of their net cash and invested assets and of the underwriting liability of theĀ individual underwriters.Ā So much, however, of any risk as shall be reinsuredĀ in an association of underwriters or insurance corporation lawfully transactingĀ business in this state, shall not be considered part of the risk.
Ā