West Virginia § 33-7-6 - 33-7-6. Unearned premium reserve.
Full text of West Virginia West Virginia Code § 33-7-6 — 33-7-6. Unearned premium reserve., with citation guidance and answers to common questions.
§ 33-7-6. 33-7-6. Unearned premium reserve.
(a) With reference to insurance against loss or damage to property (except as provided in paragraph (e) of this section) and with reference to all general casualty insurance, and surety insurance, every insurer shall maintain an unearned premium reserve on all policies in force.
(b) The commissioner may require that such reserves shall be equal to the unearned portions of the gross premiums in force after deducting reinsurance in solvent insurers effected in the manner provided in this chapter as computed on each respective risk from the policy's date of issue.
(c) All of such reserves may be computed, at the option of the insurer, on a yearly or more frequent pro rata basis.
(d) After adopting a method for computing such reserve, an insurer shall not change methods without approval of the commissioner.
(e) With reference to marine insurance, premiums on trip risks not terminated shall be deemed unearned, and the commissioner may require the insurer to carry a reserve thereon equal to one hundred percent on trip risks written during the month ended as of the date of statement.
Source: official West Virginia text · Last verified 2026-08-27
Frequently Asked Questions About West Virginia § 33-7-6
What does West Virginia Code § 33-7-6 cover?
Section 33-7-6 ("33-7-6. Unearned premium reserve.") is part of the West Virginia Code, the codified statutory law of West Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite West Virginia § 33-7-6?
A common citation format is "West Virginia Code § 33-7-6" (West Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of West Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the West Virginia official source linked on this page or consult a licensed West Virginia attorney.
How does West Virginia § 33-7-6 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in West Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in West Virginia.