§ 24-A §993 — Actuarial opinion of reserves and supporting documentation

1.
Statement of actuarial opinion.
Every property and casualty insurance company doing business for covered kinds of insurance in this State, unless otherwise exempted by the domiciliary commissioner, shall annually submit the opinion of an appointed qualified actuary entitled “Statement of Actuarial Opinion.” This opinion must be filed in accordance with the appropriate NAIC property and casualty annual statement instructions.
2.
Actuarial opinion summary.
An actuarial opinion summary is required pursuant to this subsection.
3.
Actuarial report and work papers.
An actuarial report is required pursuant to this subsection.
4.
Liability.
The appointed qualified actuary is not liable for damages to any person, other than the property and casualty insurance company and the superintendent, for any act, error, omission, decision or conduct with respect to the actuary's opinion, except in cases of fraud, willful misconduct or reckless disregard on the part of the actuary.

Legislative History

PL 2007, c. 281, §2 (NEW). PL 2007, c. 281, §3 (AFF).