Feldblum Schedule F
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Definition of "Provision for Reinsurance"
Minimum bound of uncollectible reinsurance, used in Statutoryaccounting.
Provision for Reinsurance for an Unauthorized Reinsurer Formula
Provision = Unsecured total recoverables + 20% (recoverablesover 90 days overdue) + 20%(amounts in dispute).
Amounts in dispute are included in the "unsecured total recoverables" and "amounts in dispute"
Provision for Reinsurance for an Authorized Non-Slow Paying Reinsurer Formula
Provision = 20% (recoverables over 90 days overdue)
Includes overdue amounts in dispute
Provision for Reinsurance for an Authorized Slow Paying Reinsurer Formula
Provision= max [ 20% (unsecured total recoverables), 20%(recoverables over 90 days overdue)]
Both terms include amounts in dispute (the latter only includes overdue amounts).
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