NAC681B.285. Supporting document entitled “Actuarial Report” required; availability to Commissioner; review by actuary at expense of company in certain circumstances.

Each opinion required by NAC 681B.275 must be supported by a document entitled “Actuarial Report” prepared by the appointed actuary of the property and casualty insurance company in accordance with the Annual Statement Instructions: Property and Casualty, as adopted by the National Association of Insurance Commissioners for the year in which the property and casualty insurance company files the opinion. This report and all underlying work papers must be made available to the Commissioner upon his or her request. If a property and casualty insurance company fails to provide a supporting Actuarial Report or work papers at the request of the Commissioner or the Commissioner determines that the supporting Actuarial Report or work papers provided by the company are otherwise unacceptable to the Commissioner, the Commissioner may engage a qualified actuary at the expense of the company to review the opinion and the basis for the opinion and prepare the supporting Actuarial Report or work papers.

     (Added to NAC by Comm’r of Insurance by R072-10, eff. 12-16-2010)