11 N.C. Admin. Code 18 .0119 - "QUALIFIED ACTUARY"; MAXIMUM NET RETENTION FILING
(a) As
used in this Rule and in
11 NCAC
18 .0120 and
11 NCAC
18 .0121, "qualified actuary" means an
individual who is either an Associate or Fellow of the Society of Actuaries or
a Member of the American Academy of Actuaries and who has at least five years
of actuarial experience with MEWAs.
(b) Every year each MEWA shall calculate its
maximum net retention limit in accordance with
11 NCAC
18 .0118. This calculation must be performed
before the anniversary date of the MEWA's stop-loss insurance contract and
shall be filed, no later than 30 days before the anniversary date of the
stop-loss insurance contract, with the Actuarial Services Division of the
Department. This calculation shall include the numerical results of all steps
in 11
NCAC 18 .0118 and shall be performed by a
qualified actuary.
Notes
Eff. July 1, 1994;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. December 16, 2014.
Eff. July 1, 1994.
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