Ariz. Admin. Code § R20-5-1513 - Financial Statements and Actuarial Reports
A. A Self-Insurer shall ensure that audited
financial statements are prepared annually at the end of the Self-Insurer's
fiscal year by a certified public accountant experienced in auditing financial
statements.
B. Actuarial reports
and studies required in this Article must be completed by an actuary that is a
member of the American Academy of Actuaries (MAAA) or a fellow of the Casualty
Actuarial Society (FCAS). At a minimum, actuarial reports must address claim
reserves, supplemental reserves, and actuarial liabilities using an expected
confidence level and a discount rate consistent with Actuarial Standard of
Practice No. 20 (or a successor standard).
C. Upon request, a Self-Insurer shall file
its most-recent annual audited financial statements or actuarial report with
the Division.
Notes
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