{"code":"RTC","codeName":"Revenue and Taxation Code","section":"12075","citation":"Rev. & Tax. Code, § 12075","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 2. OTHER TAXES [6001. - 61050.]","url":"https://blackletter.si/revenue-and-taxation-code/division-2"},{"name":"PART 7. INSURANCE TAXATION [12001. - 13170.]","url":"https://blackletter.si/revenue-and-taxation-code/division-2/part-7"},{"name":"CHAPTER 2. Ocean Marine Insurance [12071. - 12107.]","url":"https://blackletter.si/revenue-and-taxation-code/division-2/part-7/chapter-2"},{"name":"ARTICLE 1. Definitions [12071. - 12078.]","url":"https://blackletter.si/revenue-and-taxation-code/division-2/part-7/chapter-2/article-1"}],"history":"Added by Stats. 1941, Ch. 113.","effective":null,"html":"<p>“Losses incurred” means gross losses incurred during the current calendar year under ocean marine contracts written within the United States, less reinsurance claims collected or collectible and salvages or recoveries collectible from any source applicable to the losses.</p>","text":"“Losses incurred” means gross losses incurred during the current calendar year under ocean marine contracts written within the United States, less reinsurance claims collected or collectible and salvages or recoveries collectible from any source applicable to the losses.","otherVersions":[],"url":"https://blackletter.si/revenue-and-taxation-code/definitions-12075","source":"California Legislative Information bulk export (pubinfo)"}