WM. PRESTON LANE, JR., GOVERNOR. 1261

years, less all loss and loss expense payments made under
liability policies written in the corresponding years; but in
any event, such reserve shall for the first of such three years,
be not less than seven hundred and fifty dollars for each
outstanding liability suit on said year's policies; (3) For all
compensation claims under policies written more than three
years prior to the date as of which the statement is made,
the present values at four per centum interest of the deter-
mined and estimated future payments; (4) For all compensa-
tion claims under policies written in the three years imme-
diately preceding the date as of which the statement is made,
such reserve shall be sixty-five per centum of the earned
compensation premiums of each of such three years, less all
loss and loss expense payments made in connection with such
claims under policies written in the corresponding years; but
in any event, in the case of the first year of any such three-
year period such reserve shall not be less than the present
value at four per centum interest of the determined and the
estimated unpaid compensation claims under policies written
during such year. The term "earned premiums" as used
herein shall include gross premiums charged on all policies
written, including all determined excess and additional pre-
miums, less return premiums other than premiums returned
to policyholders as dividends, and less reinsurance premiums
and premiums on policies cancelled, and less unearned pre-
miums on policies in force. But any participating company
which has charged in its premium a loading solely for divi-
dends shall not be required to include such loading in its
earned premiums, provided a statement of the amount of such
loading has been filed with and approved by the Insurance
Commissioner.

The term "Compensation" as used in this Article shall re-
late to all insurance effected by virtue of statutes or volun-
tary agreements providing compensation to employees for
personal injuries irrespective of fault of the employer. The
term "liability" shall relate to all insurance, except statutory
or voluntary compensation insurance, against loss or dam-
age from accident to or injuries suffered by an employee or
other person and for which the insured is liable.

The term 'loss payments" and "loss expense payments" as
used herein shall include all payments to claimants, including
payments for medical and surgical attendance, legal expenses,
salaries and expenses of investigators, adjusters and field
men, rents, stationery, telegraph and telephone charges, post-
age, salaries and expenses of office employees, home office ex-
penses, and all other payments made on account of claims
whether such payments shall be allocated to specific claims or
unallocated.