New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter IV - Financial Condition Of Insurer and Reports to Superintendent
Subchapter C - Fire, Marine, Casualty And Surety Insurers
Part 111 - [Actuarial Opinion]
Section 111.2 - Statement of actuarial opinion and actuarial opinion summary
Universal Citation: 11 NY Comp Codes Rules and Regs ยง 111.2
Current through Register Vol. 46, No. 12, March 20, 2024
(a) A property/casualty insurer shall submit with the annual statement, by March 1 of each year, the opinion of an appointed actuary en titled "statement of actuarial opinion" in accordance with the National Association of Insurance Commissioners ("NAIC") property an d casualty annual statement instructions as of September 2016 1 , unless, with respect to a foreign property/casualty insurer, the insurer's domiciliary state has exempted the insurer from filing the statement of actuarial opinion with the domiciliary state.
(b)
(1) A
domestic property/casualty insurer, other than a corporation organized as a
title insurance corporation under Insurance Law article 64, that is required to
submit a statement of actuarial opinion shall submit electronically to the
superintendent by March 15 of each year an actuarial opinion summary, written
by the insurer's appointed actuary. The insurer shall file the actuarial
opinion summary in accordance with the actuarial opinion summary supplement to
the NAIC property and casualty annual statement instructions as of September
2016. The actuarial opinion summary shall be considered a document supporting
the statement of actuarial opinion required by subdivision (a) of this
section.
(2) A foreign
property/casualty insurer that submits a statement of actuarial opinion shall
submit electronically to the superintendent an actuarial opinion summary within
15 days of the superintendent's request.
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