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ARSD 20:06:37 – Actuarial Opinions and Memorandums | Midpage
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Administrative Rules of South Dakota
Title 20
20:06
Chapter 20:06:37
ARSD 20:06:37
Actuarial Opinions and Memorandums
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Definitions.
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Scope.
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Submission of statement of actuarial opinions.
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Qualified actuary.
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Appointed actuary.
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Standards for asset adequacy analysis.
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Liabilities to be covered.
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Repeated.
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Contents of statement of actuarial opinion based on asset adequacy analysis.
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Opening paragraph.
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Scope paragraph.
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Notation of actuary's reliance upon experts.
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Reliance paragraph -- Examination of underlying assets and liability records completed.
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Reliance paragraph -- Examination of underlying records not completed.
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Opinion paragraph.
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Assumptions for new issues.
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Adverse opinions.
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Reliance on information furnished by other persons.
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Description of actuarial memorandum including an asset adequacy analysis and a regulatory asset adequacy issues summary.
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Details of the memorandum section documenting asset adequacy analysis.
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Details of the regulatory asset adequacy issues summary.
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Conformity to standards of practice.
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Use of assets supporting the interest maintenance reserve and the asset valuation reserve.
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Documentation.
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Asset Adequacy Tested Amounts - Reserves and Liabilities