Norwich bulletin., 1917-03-02
COMPENSATION INSURANCE
Act Taken From Calendar and Passed
 This Week.

l
 This act concerning reserves for Ha- ] bility and worhmen's compensation in I surance. was taken from the legislative | calendar and passed this week.
 Section L The reserve for outstand- 1 u1S losses under insurance against loss or damage from accident to or injur- ies suffered by ar employee or other person and for which the insured is liable shall. be computed as follows: CD. For all liability suits being defend ed under policies written more than (al ten years prior to the date as of which the statement is made, one thousand five hundred dollars for each suit: Cb) five and less than ten years prior to the date as of which the state ment is made. one thousand dollars for each suit; Co three and less than five years prior to the date as Of which the statement is made, eight hundred
 and fifty dollars for each suit; (2) for all liability policies written during the three years immediately preceding the date as of which the statement is made, such reserve shall be sixty per
 centum of the earned liability pre-
 niurlS of each of such three years less
 all loss and loss expense payments
 made under liability policies written in
 the corresponding years; but in any event, such reserve shall, for the first
 of such three years, be not less than seven hundred and fifty dollars for eAch outstanding iIaD1l1IE suit on SSlQ
 years policies: (3p For all compensa-
 ton claims under policies written moro than three years prior to the date as of which the statement is made, the
 present values at four per centum in tereSt Of the determined and the esti-
 mated future payments: (4) For all
 comprehension claims under policies
 written in the three years immediately statement is made, such reserves shall
 be sixty-five per centum of the earned compensation premiums of each of such three years, less all loss and loss expense payments made in connection with such claims under policies writ
 ten in the corresponding years; but in any event in the case of the first year
 of any such three-y period such re-
 serve shall be not less than the pres
 ent value at four per centum interest Of the determined and tn eestimated
 unpaid compensation claims under pol
 icies written during such year: pro
 vided, in computing the reserve Tor
 the statement for December S1, 1917, and December 31, 1918, the ratios six
 ty per centuIn and sixty 1.-two and one
 half per centum respectively shall be
 used instead of Sixty-five per centum
 as hereinbefore provided.
 Sec. 2. The term learned premiums
 as used herein shall include gross pre-
 miums charged on all policies written; including all determined excess and additional premiums, less returned pre- miums, other than premiums returned to po1icy-holders as dividends, and less reinsurance premiums and premiums on policies cancelled, and less unea-n- ed premiums on policies in force. The term "compensation as used In this act shall relate to all insurances af- fected by virtue of statutes providing compensation to employees for perso- nal injuries irrespective of fault of the employer. The term liability shall relate to all insurance except compen- sation insurance against loss or dam age from accident or to injuries suf- fered by an employee or other person and for which the insured Is liable The terms loss Payments and Toss payments as used herein shall in- cIude ali payments to claimants. in- cluding payments for medical and sur g1ca1 attendance, legal expenses. salzr-