Utah Admin. Code R590-238-4 - Annual Reporting Requirements
(1) A company shall file an annual report of
its financial condition with the commissioner as required by Section
31A-37-501.
(2) The report required in Subsection (1)
shall be:
(a) verified by oath of at least
two individuals who are executive officers of the company and by the captive
manager or a appointed representative;
(b) prepared using GAAP; and
(c) filed electronically using the
department's website, https://insurance.utah.gov/captive.
(3)
(a) A company, except for a company under
Subsection (3)(b), shall use the Captive Insurance Company Annual Statement
Form.
(b) A risk retention group and
a special purpose financial captive shall use the NAIC's Annual and Quarterly
Statements.
(4) An annual
report shall include a Statement of Actuarial Opinion setting forth the
qualified actuary's opinion relating to loss and loss adjustment expense
reserves.
Notes
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