§431:5-302  Unearned premium reserve for marine and transportation.  Marine and transportation insurance policy premiums on trip risks not terminated shall be deemed unearned.  The commissioner may require the insurer to carry a reserve equal to one hundred per cent on trip risks written during the month ended as of the date of statement, and:

     (1)  Computed upon a pro rata basis; or

     (2)  With the commissioner's consent, in accordance with the alternative methods provided in section 431:5-301(c) and section 431:5-301(d). [L 1987, c 347, pt of §2; am L 1997, c 368, §5]