Subchapter 5: PROPERTY AND CASUALTY ACTUARIAL OPINION
§992. Definitions
As used in this subchapter, unless the context otherwise indicates, the following terms have the following meanings. [2007, c. 281, §2 (NEW); 2007, c. 281, §3 (AFF).]
1.Covered kinds of insurance. "Covered kinds of insurance" include:
A. Casualty insurance as defined in section 707; and [2007, c. 281, §2 (NEW); 2007, c. 281, §3 (AFF).]
B. Property insurance as defined in section 705. Property insurance written by domestic mutual assessment insurers pursuant to
chapter 51 is not subject to the requirements of this subchapter. [2007, c. 281, §2 (NEW); 2007, c. 281, §3 (AFF).]
[
2007, c. 281, §2 (NEW);
2007, c. 281, §3 (AFF)
.]
2.NAIC. "NAIC" means the National Association of Insurance Commissioners.
[
2007, c. 281, §2 (NEW);
2007, c. 281, §3 (AFF)
.]
3.Qualified actuary. "Qualified actuary" means a person who is a member of the American Academy of Actuaries who has obtained a designation either
as a fellow or an associate in the Casualty Actuarial Society and, if an associate, has at least 5 years' experience in actuarial
practice obtained in the covered kinds of insurance.
[
2007, c. 281, §2 (NEW);
2007, c. 281, §3 (AFF)
.]
SECTION HISTORY
2007, c. 281, §2 (NEW).
2007, c. 281, §3 (AFF).
Data for this page extracted on 11/09/2009 11:20:25.