1. (1) A statement of actuarial opinion submitted annually by a property and casualty insurer shall be supported by an actuarial report prepared and signed by the insurer's appointed actuary.

2. (2) The actuarial report required by Subsection R590-264-5(1) shall be:

   1. (a) prepared in accordance with the NAIC Property and Casualty Annual Statement Instructions; and
   2. (b) provided to the commissioner upon request.

3. (3) The commissioner may engage a qualified actuary at the expense of the insurer to review the actuarial opinion and the basis for the opinion, and prepare, if requested, the supporting actuarial report or work papers if:

   1. (a) the insurer fails to provide an actuarial report to the commissioner upon request; or
   2. (b) the commissioner determines that the actuarial report provided by the insurer is unacceptable.

KEY: property casualty insurance

Date of Last Change: June 9, 2023

Notice of Continuation: June 30, 2022

Authorizing, and Implemented or Interpreted Law: 31A-2-201; 31A-4-113