A. With reference to insurance against loss or damage to property, except as provided in section 20-507, and with reference to all general casualty insurance and surety insurance, every insurer shall maintain an unearned premium reserve on all policies in force.

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B. The director may require that the reserves be equal to the unearned portions of the gross premiums in force after deducting reinsurance in solvent insurers as computed on each respective risk from the policy’s date of issue. The portions of the gross premiums in force, less reinsurance in solvent insurers to be held as a premium reserve, shall be computed according to the accounting practices and procedures manual adopted by the national association of insurance commissioners.

C. This section does not apply to title insurance.