CHAPTER
Ins 900 ACTUARIES
Statutory Authority: RSA
400-A:15, I.
PART
Ins 901 QUALIFICATION OF ACTUARIES
Ins
901.01 Scope. The
provisions of this part shall apply to all reports, statements, and other
documents filed with or provided to the insurance department or issued to the
public in connection with the business of insurance.
Source. #1900, eff 1-1-82; ss by #4287, eff 7-1-87;
ss by #5649, eff 7-1-93; ss by #7028, INTERIM, eff 7-1-99, EXPIRES: 10-29-99;
ss by #7123, eff 10-29-99; ss by #8965, eff 9-1-07; ss by #10919, eff 9-1-15
Ins
901.02 Definitions.
(a)
“Qualified actuary” means an
actuary who meets the relevant qualification standards promulgated by the
Source. #1900, eff 1-1-82; ss by #4287, eff 7-1-87;
ss by #5649, eff 7-1-93; ss by #7028, INTERIM, eff 7-1-99, EXPIRES: 10-29-99;
ss by #7123, eff 10-29-99; ss by #8965, eff 9-1-07; ss by #10919, eff 9-1-15
Ins
901.03 Restriction on Use of Terms
“Actuary” or “Actuarial”.
(a)
No person shall represent himself or herself as an actuary to the
insurance department unless such person is a qualified actuary.
(b)
No person shall make any representation to the insurance department in
which the term "actuary" or "actuarial" is used to indicate
a degree of professional competence unless such representation was prepared or
approved by a qualified actuary.
(c)
No person who is a qualified actuary shall make any representations
using the terms “actuary” or “actuarial” to the insurance department unless he
is qualified to give the actuarial advice therein contained.
Source. #1900, eff 1-1-82; ss by #4287, eff 7-1-87;
ss by #5649, eff 7-1-93; ss by #7028, INTERIM, eff 7-1-99, EXPIRES: 10-29-99;
ss by #7123, eff 10-29-99; ss by #8965, eff 9-1-07; ss by #10919, eff 9-1-15
PART
Ins 902 ACTUARIAL REVIEW OF RATE FILINGS
Ins
902.01 Scope. The provisions of this part shall apply to
rate filings for classes of insurance that are now or shall hereafter be written
in this state, submitted to the commissioner.
Source. #4498(E), eff 9-30-88; ss by #4576, eff
2-6-89; ss by #5649, eff 7-1-93; ss by #7028, INTERIM, eff 7-1-99, EXPIRES:
10-29-99; ss by #7123, eff 10-29-99; ss by #8965, eff 9-1-07; ss by #10919, eff
9-1-15
Ins
902.02 Review of Rate Filings. The commissioner
shall, for the purpose of examining and analyzing rate filings contract with a
qualified actuary or actuarial firm employing qualified actuaries. The examination
and analysis of any rate filing shall be undertaken by a contracting actuary or
actuarial firm only when the insurance department is unable to provide the
resources necessary to review such filings. The contracting actuary or actuarial firm shall
provide advice to the commissioner on the rate filing and perform other
actuarial services related to the rate filing as required.
Source. #4498(E), eff 9-30-88; ss by #4576, eff
2-6-89; ss by #5649, eff 7-1-93; ss by #7028, INTERIM, eff 7-1-99, EXPIRES:
10-29-99; ss by #7123, eff 10-29-99; ss by #8965, eff 9-1-07; ss by #10919, eff
9-1-15
Ins
902.03 Expense. The expense of the
actuarial review required by this part and all other expenses associated with
any actuarial services performed related to a rate filing shall be borne by the
insurer or insurance rating organization submitting the rate filing in
accordance with RSA 400-A:37 III (d).
Source. #4498(E), eff 9-30-88; ss by #4576, eff
2-6-89; ss by #5649, eff 7-1-93; ss by #7028, INTERIM, eff 7-1-99, EXPIRES:
10-29-99; ss by #7123, eff 10-29-99; ss by #8965, eff 9-1-07; ss by #10919, eff
9-1-15
PART
Ins 903 OTHER REQUISITE REPORTS AND
DOCUMENTS
Ins
903.01 Signature of Actuary Required
for Annual Statements.
All annual statements of foreign, domestic, and alien life and accident
and health insurance companies, fraternal benefit societies, hospital service
corporations, and medical service corporations, which are required to be filed
with the insurance commissioner, as well as other periodic financial statements
of such companies as the insurance commissioner requires, shall be signed by a
qualified actuary.
Source. #8965, eff 9-1-07 (formerly Ins 901.04); ss
by #10919, eff 9-1-15
Ins
903.02 Actuarial Certification. All requisite
actuarial certifications shall be prepared and signed by a qualified actuary.
Source. #8965, eff 9-1-07; ss by #10919, eff 9-1-15
PART Ins 904
LIMITATIONS
Ins
904.01 Limitations. Nothing in this chapter shall be construed
to:
(a)
Require any insurer or insurance rating organization to employ an
actuary;
(b)
Require that rate filings be prepared or submitted by a qualified
actuary; or
(c) Prohibit the
strictly internal use by insurers or insurance rating organizations of job
titles containing the words “actuary” or “actuarial.”
Source. #8965, eff 9-1-07; ss by #10919, eff 9-1-15
APPENDIX
|
RULE |
STATUTE IMPLEMENTED |
|
|
|
|
Ins 901.01 |
RSA 410:2 |
|
Ins 901.02 |
RSA 402-E:1; 402-F:11 |
|
Ins 901.03 |
RSA 410:2-a |
|
Ins 902.01 |
RSA 412; 414; 420-A;
420-B; 420-F: 420-G |
|
Ins 902.02 |
RSA 412; 414; 420-A;
420-B |
|
Ins 902.03 |
RSA 400-A:36-a |
|
Ins 903.01 |
RSA 410:2-a |
|
Ins 903.02 |
RSA 410:2 |
|
Ins 904.01 |
RSA 410:2-a |