Utah Admin. Code R590-264-5 - Actuarial Report
(1) A statement of
actuarial opinion submitted annually by a property and casualty insurer shall
be supported by an actuarial report prepared and signed by the insurer's
appointed actuary.
(2) The
actuarial report required by Subsection
R590-264-5(1)
shall be:
(a) prepared in accordance with the
NAIC Property and Casualty Annual Statement Instructions; and
(b) provided to the commissioner upon
request.
(3) The
commissioner may engage a qualified actuary at the expense of the insurer to
review the actuarial opinion and the basis for the opinion, and prepare, if
requested, the supporting actuarial report or work papers if:
(a) the insurer fails to provide an actuarial
report to the commissioner upon request; or
(b) the commissioner determines that the
actuarial report provided by the insurer is unacceptable.
Notes
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