Standards for asset adequacy analysis.
Effective Jun 2, 200834 SDR 297Source: 23 SDR 236, effective July 16, 1997; 25 SDR 13, effective August 9, 1998; 26 SDR 26, effective September 1, 1999; 27 SDR 54, effective December 4, 2000; 30 SDR 39, effective September 28, 2003; 34 SDR 297, effective June 2, 2008. | General Authority: SDCL 58-26-47. | Law Implemented: SDCL 58-26-47.
The asset adequacy analysis required by this chapter:
- (1) Must conform to the standards of practice in Actuarial Standard of Practice No. 22, "Statements of Opinion Based on Asset Adequacy Analysis by Appointed Actuaries for Life or Health Insurers" adopted by the Actuarial Standards Board, September 2001, and on any additional standards under this chapter. These standards must form the basis of the statement of actuarial opinion in accordance with §§ 20:06:37:29 to 20:06:37:39, inclusive;
(2) Shall be based on methods of analysis as are deemed appropriate for such purposes by the Actuarial Standards Board.
Reference: Actuarial Standards of Practice, American Academy of Actuaries. Copies may be obtained free of charge on the website: http://www.actuarialstandardsboard.org/asops.htm.
Source: 23 SDR 236, effective July 16, 1997; 25 SDR 13, effective August 9, 1998; 26 SDR 26, effective September 1, 1999; 27 SDR 54, effective December 4, 2000; 30 SDR 39, effective September 28, 2003; 34 SDR 297, effective June 2, 2008.
General Authority: SDCL 58-26-47.
Law Implemented: SDCL 58-26-47.