Common use of Reserves, etc Clause in Contracts

Reserves, etc. The amounts shown in the Statutory Insurance Statements as reserves and liabilities for past and future insurance policy benefits, losses, claims and expenses under insurance policies as of the end of each such year were computed in accordance with commonly accepted actuarial standards consistently applied, were fairly stated in accordance with sound actuarial principles, were based on actuarial assumptions which were in accordance with those called for in policy provisions and met the requirements of the insurance laws of New Jersey, New Hampshire, New York and California, as applicable, and such amounts shown on the Statutory Insurance Statements filed after the date hereof and on or prior to the Closing Date will be so computed and based and will meet all such requirements. No other state has objected to such Statutory Insurance Statements as filed.