20-696. Scope of article A. This article applies to all life insurance companies and fraternal benefit societies that are doing business in this state or that are authorized to reinsure life insurance, annuities or accident and health insurance business in this state. B. This article applies to all annual statements that are filed with the […]
20-696.01. Definitions In this article, unless the context otherwise requires: 1. " Actuarial opinion" means the opinion of an appointed actuary regarding the adequacy of the reserves and related actuarial items that is based on an asset adequacy analysis conducted pursuant to section 20-696.03 and that is based on presently accepted actuarial standards of practice. […]
20-696.02. General requirements; statement of actuarial opinion; qualified actuary; appointed actuary; analysis A. The following apply to the submission of statements of actuarial opinion: 1. Pursuant to section 20-696.03, a company shall include with or attach to page one of its annual statement the statement of actuarial opinion that is made by an appointed actuary […]
20-696.03. Statement of actuarial opinion based on an asset adequacy analysis A. The statement of actuarial opinion submitted pursuant to this section consists of: 1. A paragraph identifying the appointed actuary and the actuary’s qualifications pursuant to section 20-696.02, subsection B. 2. A scope paragraph that identifies the subjects on which an opinion is to […]
20-696.04. Description of actuarial memorandum including an asset adequacy analysis and regulatory asset adequacy issues summary A. Pursuant to section 20-510, subsection E or F, the appointed actuary shall prepare a memorandum to the company describing the analysis in support of the appointed actuary’s opinion regarding the reserves. B. The director may examine the memorandum […]
