Utah Admin. Code R590-162-2 - Purpose and Scope
(1) The purpose of
this rule is to prescribe:
(a) requirements
for statements of actuarial opinion and memoranda in support that are submitted
under Section
31A-17-503;
(b) guidance for adequacy of reserves;
and
(c) rules applicable to an
appointed actuary.
(2)
(a) This rule applies to a company that:
(i) files a life, accident and health annual
statement; or
(ii) is authorized to
reinsure life insurance, annuities, or accident and health insurance
business.
(b) This rule
allows an appointed actuary to use professional judgment in performing an asset
adequacy analysis and developing an actuarial opinion and supporting memoranda,
consistent with applicable actuarial standards of
practice.
Notes
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