NAC681B.205. Opinion as to computation of reserves and related items: Contents.

     1. An opinion of a qualified actuary submitted pursuant to NRS 681B.210 must contain:

     (a) A paragraph which identifies the appointed actuary and lists his or her qualifications;

     (b) A paragraph which states that the opinion is rendered in accordance with NRS 681B.210 and this section and is not based on an asset adequacy analysis;

     (c) A paragraph which identifies the subjects on which the opinion is to be expressed and describes the scope of the appointed actuary’s work; and

     (d) A paragraph expressing the appointed actuary’s opinion.

     2. The paragraph required pursuant to paragraph (c) of subsection 1 must contain a list of the items and amounts with respect to which the actuary is expressing an opinion. The list must include, without limitation:

     (a) Aggregate reserves and deposit funds for policies and contracts included in Exhibit 5 of the insurer’s annual statement;

     (b) Aggregate reserves and deposit funds for policies and contracts included in Exhibit 6 of the insurer’s annual statement;

     (c) Deposit funds, premiums, dividend and coupon accumulations and supplementary contracts not involving life contingencies included in Exhibit 7 of the insurer’s annual statement; and

     (d) Liability for the end of the year based on policy and contract claims, included in part I of Exhibit 8 of the insurer’s annual statement.

     3. Upon request, the Commissioner will provide guidelines for language that will satisfy the provisions of this section.

     (Added to NAC by Comm’r of Insurance, eff. 5-23-96; A by R146-12, 10-4-2013)