Code of Massachusetts Regulations
211 CMR - DIVISION OF INSURANCE
Title 211 CMR 132.00 - Actuarial Opinion And Memorandum Regulation
Section 132.04 - Definitions

Universal Citation: 211 MA Code of Regs 211.132
Current through Register 1531, September 27, 2024

Actuarial Opinion means the opinion of an Appointed Actuary regarding the adequacy of the reserves and related actuarial items based on an asset adequacy analysis in accordance with 211 CMR 132.06 and with applicable Actuarial Standards of Practice.

Actuarial Standards Board means the board established by the American Academy of Actuaries to develop and promulgate standards of actuarial practice.

Annual Statement means that statement required by M.G.L. c. 175, § 25 to be filed by the company with the Commissioner annually.

Appointed Actuary means any individual who is appointed or retained in accordance with the requirements set forth in 211 CMR 132.05(3), to provide the actuarial opinion and supporting memorandum as required by M.G.L. c. 175, § 9B.

Asset Adequacy Analysis means an analysis that meets the standards and other requirements referred to in 211 CMR 132.05(4).

Commissioner means the Insurance Commissioner of this State.

Company means a life insurance company, fraternal benefit society or reinsurer subject to the provisions of 211 CMR 132.00.

Qualified Actuary means any individual who meets the requirements set forth in 211 CMR 132.05(2).

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