Nev. Admin. Code § 681B.223 - Refusal to provide actuarial opinion; issuance of adverse or qualified actuarial opinion

1. If an appointed actuary is unable to form an opinion as to whether the reserves and related actuarial items held in support of the policies and contracts specified by the Commissioner satisfy the conditions set forth in NRS 681B.210 or 681B.220, the appointed actuary shall refuse to issue a statement of actuarial opinion.

2. If an appointed actuary's opinion as to whether the reserves and related actuarial items held in support of the policies and contracts specified by the Commissioner satisfy the conditions set forth in NRS 681B.210 or 681B.220 is adverse or qualified, the appointed actuary shall issue an adverse or qualified actuarial opinion explicitly stating the reasons for the opinion.

Notes

Nev. Admin. Code § 681B.223

Added to NAC by Comm'r of Insurance by R146-12, eff. 10-4-2013

NRS 679B.130, 681B.210, 681B.220