California Code of Regulations
Title 10 - Investment
Chapter 5 - Insurance Commissioner
Subchapter 3 - Insurers
Article 17 - Actuarial Opinion and Memorandum Regulation
Section 2580.2 - Scope

This regulation shall apply to all life insurance companies and fraternal benefit societies doing business in this State and to all life insurance companies and fraternal benefit societies that are authorized to reinsure life insurance, annuities or accident and health insurance business in this State. This regulation shall be applied in a manner that allows the Appointed Actuary to utilize his or her professional judgment in performing the Asset Adequacy Analysis and developing the Actuarial Opinion and supporting memoranda, consistent with relevant actuarial standards of practice. However, the Commissioner shall have the authority to specify specific methods of actuarial analysis and actuarial assumptions when, in the Commissioner's judgment, these specifications are necessary for an acceptable opinion to be rendered relating to the adequacy of reserves and related items.

This regulation shall be applicable to all annual statements filed with the office of the Commissioner after the effective date of this regulation. A statement of opinion on the adequacy of the reserves and related actuarial items based on an Asset Adequacy Analysis in accordance with Section 2580.5 of this regulation, and a memorandum in support thereof in accordance with Section 2580.6 of this regulation, shall be required each year.

1. New section filed 12-6-94; operative 1-5-95 (Register 94, No. 49).
2. Amendment filed 12-27-2004; operative 1-1-2005 pursuant to Government Code section 11343.4 (Register 2004, No. 53).

Note: Authority cited: Section 10489.15, Insurance Code. Reference: Section 10489.15, Insurance Code.