N.Y. Insurance Law Section 1303
Loss or claim reserves

Every insurer shall, except as provided in § 1304 (Valuation reserves)section one thousand three hundred four of this article and subject to specific provisions of this chapter, maintain reserves in an amount estimated in the aggregate to provide for the payment of all losses or claims incurred on or prior to the date of statement, whether reported or unreported, which are unpaid as of such date and for which such insurer may be liable, and also reserves in an amount estimated to provide for the expenses of adjustment or settlement of such losses or claims.

Source: Section 1303 — Loss or claim reserves, https://www.­nysenate.­gov/legislation/laws/ISC/1303 (updated Sep. 22, 2014; accessed Jan. 10, 2026).

Green check means up to date. Up to date

Verified:
Jan. 10, 2026

Last modified:
Sep. 22, 2014

§ 1303. Loss or claim reserves's source at nysenate​.gov

Link Style