West Virginia § 33-7-7 - 33-7-7. Reserves for accident and sickness insurance.
Full text of West Virginia West Virginia Code § 33-7-7 — 33-7-7. Reserves for accident and sickness insurance., with citation guidance and answers to common questions.
§ 33-7-7. 33-7-7. Reserves for accident and sickness insurance.
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.
Source: official West Virginia text · Last verified 2026-08-27
Frequently Asked Questions About West Virginia § 33-7-7
What does West Virginia Code § 33-7-7 cover?
Section 33-7-7 ("33-7-7. Reserves for accident and sickness insurance.") 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 § 33-7-7?
A common citation format is "West Virginia Code § 33-7-7" (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 § 33-7-7 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.