1. For actuarial opinions of reserves prepared after the operative date of the Valuation Manual: (a) Every company with outstanding life insurance contracts, accident and health insurance contracts or deposit-type contracts in this State and subject to regulation by the Commissioner shall annually submit the opinion of the appointed actuary as to whether the reserves […]
1. An applicable company using a principle-based valuation for one or more policies or contracts subject to this chapter, and as specified in the Valuation Manual, shall: (a) Establish procedures for corporate governance and oversight of the actuarial valuation function consistent with those described in the Valuation Manual. (b) Provide to the Commissioner, and the […]
1. An applicable company using a principle-based valuation must establish reserves that: (a) Quantify the benefits and guarantees, and the funding, associated with the contracts and their risks at a level of conservatism that reflects conditions which include unfavorable events that have a reasonable probability of occurring during the lifetime of the contracts. For policies […]
1. A principle-based valuation may include a prescribed formulaic reserve component. 2. Except as otherwise provided in NRS 681B.310, the provisions of this section apply only to, or in connection with, policies and contracts issued on or after the operative date of the Valuation Manual. (Added to NRS by 2015, 3397)
