In order to demonstrate that a self-insurance program complies with the reserve adequacy provisions contained in ORS 30.282(6)(d) or 731.036(4), (5) or (6), the demonstration of compliance must be accompanied and supported by the written actuarial report issued by a qualified actuary. As used in this rule, “qualified actuary” means:

1. (1) For property or casualty insurance, a person who is either:

   1. (a) A member in good standing of the Casualty Actuarial Society; or
   2. (b) A member in good standing of the American Academy of Actuaries who has been approved as qualified for signing casualty loss reserve opinions by the Casualty Practice Council of the American Academy of Actuaries.
2. (2) For health insurance, a person who is a member in good standing of the American Academy of Actuaries, or a person recognized by the American Academy of Actuaries as qualified for such actuarial valuation.

Statutory/Other Authority

ORS 731.244

Statutes/Other Implemented

ORS 30.282 & 731.036

History

ID 13-2011, f. & cert. ef. 9-21-11
ID 1-2011, f. & cert. ef. 2-4-11