19 Miss. Code. R. 2-17.04 - Definitions

A. "Actuarial Opinion" means the opinion of an appointed actuary regarding the adequacy of the reserves and related actuarial items based on an asset adequacy analysis in accordance with Section 6 of this regulation and with applicable Actuarial Standards of Practice.

B. "Actuarial Standards Board" means the board established by the AmericanAcademy of Actuaries to develop and promulgate standards of actuarial practice.

C. "Annual statement" means that statement required by Miss. Code Ann. § 83-5-55 to be filed by the company with the office of the commissioner annually.

D. "Appointed actuary" means an individual who is appointed or retained in accordance with the requirements set forth in Section 5C of this regulation to provide the actuarial opinion and supporting memorandum as required by Miss. Code Ann. § 83-7-23.

E. "Asset adequacy analysis" means an analysis that meets the standards and other requirements referred to in Section 5D of this regulation.

F. "Commissioner" means the Insurance Commissioner of this State.

G. "Company" means a life insurance company, fraternal benefit society or reinsurer subject to the provisions of this regulation.

H. "Qualified actuary" means an individual who meets the requirements set forth in Section 5B of this regulation.

Notes

19 Miss. Code. R. 2-17.04

Source:Miss. Code Ann. § 83-7-23 (Rev. 2011)