Sec. 111.2. Statement of actuarial opinion and actuarial opinion summary

(a) A property/casualty insurer shall submit with the annual statement, by March 1st of each year, the opinion of an appointed actuary entitled “statement of actuarial opinion” in accordance with the National Association of Insurance Commissioners (NAIC) property and casualty annual statement instructions as of September 2016, unless, with respect to a foreign property/casualty insurer, the insurer’s domiciliary state has exempted the insurer from filing the statement of actuarial opinion with the domiciliary state.

(b)

(1) A domestic property/casualty insurer, other than a corporation organized as a title insurance corporation under Insurance Law article 64, that is required to submit a statement of actuarial opinion shall submit electronically to the superintendent by March 15th of each year an actuarial opinion summary, written by the insurer’s appointed actuary. The insurer shall file the actuarial opinion summary in accordance with the actuarial opinion summary supplement to the NAIC property and casualty annual statement instructions as of September 2016. The actuarial opinion summary shall be considered a document supporting the statement of actuarial opinion required by subdivision (a) of this section.

(2) A foreign property/casualty insurer that submits a statement of actuarial opinion shall submit electronically to the superintendent an actuarial opinion summary within 15 days of the superintendent’s request.

Notation

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OFFICIAL NAIC ANNUAL STATEMENT INSTRUCTIONS, PROPERTY/CASUALTY, FOR THE 2016 REPORTING YEAR. Printed September 2016. © Copyright 1984 - 2016 by National Association of Insurance Commissioners, in Kansas City, Missouri.