# W. Va. Code § 33-7-7: Reserves for accident and sickness insurance

> West Virginia · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_WV_C33_A7_S7

## Section

- **Citation:** W. Va. Code § 33-7-7
- **Heading:** Reserves for accident and sickness insurance
- **Jurisdiction:** West Virginia
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** WV Code / Chapter 33 / Article 7 / Section 7

## Text

For all accident and sickness policies the insurer shall maintain an active life reserve which shall place a sound value on its liabilities under such policies and which shall not be less than the reserve according to standards set forth in regulations issued by the commissioner and which,

(a) For credit accident and sickness policies, in no event shall be less than the unearned premium reserve for such policies calculated on the sum of the digits formula, commonly known as the "Rule of 78";

(b) For all other accident and sickness policies, in no event shall be less than the pro rata gross unearned premium reserve for such policies.

## Nearby sections

- [W. Va. Code § 33-7-1 §33-7-1. Assets defined.](https://www.frixlaw.com/law-library/statutes/STATE_WV_C33_A7_S1.md)
- [W. Va. Code § 33-7-2 §33-7-2. Deductions from assets and liabilities.](https://www.frixlaw.com/law-library/statutes/STATE_WV_C33_A7_S2.md)
- [W. Va. Code § 33-7-3 §33-7-3. Assets not allowed.](https://www.frixlaw.com/law-library/statutes/STATE_WV_C33_A7_S3.md)
- [W. Va. Code § 33-7-4 §33-7-4. Reporting assets not allowed or of doubtful value.](https://www.frixlaw.com/law-library/statutes/STATE_WV_C33_A7_S4.md)
- [W. Va. Code § 33-7-5 §33-7-5. Liabilities.](https://www.frixlaw.com/law-library/statutes/STATE_WV_C33_A7_S5.md)
- [W. Va. Code § 33-7-6 §33-7-6. Unearned premium reserve.](https://www.frixlaw.com/law-library/statutes/STATE_WV_C33_A7_S6.md)
- [W. Va. Code § 33-7-7 §33-7-7. Reserves for accident and sickness insurance.](https://www.frixlaw.com/law-library/statutes/STATE_WV_C33_A7_S7.md)
- [W. Va. Code § 33-7-8 §33-7-8. Increased reserves.](https://www.frixlaw.com/law-library/statutes/STATE_WV_C33_A7_S8.md)
- [W. Va. Code § 33-7-9 §33-7-9. Standard Valuation Law.](https://www.frixlaw.com/law-library/statutes/STATE_WV_C33_A7_S9.md)
- [W. Va. Code § 33-7-9A §33-7-9a. Annuity mortality tables.](https://www.frixlaw.com/law-library/statutes/STATE_WV_C33_A7_S9A.md)
- [W. Va. Code § 33-7-10 §33-7-10. Valuation of bonds.](https://www.frixlaw.com/law-library/statutes/STATE_WV_C33_A7_S10.md)
- [W. Va. Code § 33-7-11 §33-7-11. Valuation of other securities.](https://www.frixlaw.com/law-library/statutes/STATE_WV_C33_A7_S11.md)
- [W. Va. Code § 33-7-12 §33-7-12. Valuation of real property.](https://www.frixlaw.com/law-library/statutes/STATE_WV_C33_A7_S12.md)
- [W. Va. Code § 33-7-13 §33-7-13. Valuation of mortgages or deeds of trust.](https://www.frixlaw.com/law-library/statutes/STATE_WV_C33_A7_S13.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_WV_C33_A7_S7. Check the current official text before relying on it. Not legal advice.