§ 84b.3. Scope.

 (a)  Types of opinions. Except with respect to companies which are exempted under §  84b.6 (relating to required opinions), a statement of opinion on the adequacy of the reserves and related actuarial items based on an asset adequacy analysis in accordance with §  84b.8 (relating to statement of actuarial opinion based on asset adequacy analysis), and a memorandum in support thereof in accordance with §  84b.9 (relating to description of actuarial memorandum including an asset adequacy analysis) shall be required each year. A company so exempted shall file a statement of actuarial opinion under §  84b.7 (relating to statement of actuarial opinion not including an asset adequacy analysis).

 (b)  Filing upon request. The Commissioner may require a company otherwise exempt under this chapter to submit a statement of actuarial opinion and to prepare a memorandum in support thereof in accordance with § §  84b.8 and 84b.9 if, in the opinion of the Commissioner, an asset adequacy analysis is necessary with respect to the company. In forming the opinion, the Commissioner will take into consideration issues such as the nature of the business insured, the type of assets owned by the company and the company’s financial ratios determined in accordance with §  84b.6(c).

Cross References

   This section cited in 31 Pa. Code §  84b.6 (relating to required opinions).



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