(a) An actuarial report and underlying work papers as required by the appropriate NAIC Property and Casualty Annual Statement Instructions shall be prepared to support each statement of actuarial opinion and actuarial opinion summary.
(b) If an insurance company fails to provide a supporting actuarial report or work papers at the request of the Commissioner or if the Commissioner determines that the supporting actuarial report or work papers provided by an insurance company are unsatisfactory to the Commissioner, the Commissioner may engage an independent, qualified actuary at the expense of the company to (i) review the opinion and the basis for the opinion and (ii) prepare an actuarial report or work papers. (2007-127, s. 15.)
Sections: Previous 58-10-125 58-10-130 58-10-135 58-10-140 58-10-145 58-10-150 58-10-155 58-10-160 58-10-165 58-10-170 58-10-175 58-10-185 58-10-190 58-10-195 58-10-200 Next
Last modified: March 23, 2014