HAR §16-169-2. Scope

This subchapter shall apply to all insurance companies, mutual benefit societies, and fraternal benefit societies authorized to act as life insurers and to all insurance companies, mutual benefit societies, and fraternal benefit societies which are authorized to reinsure life insurance, annuities, or accident and health insurance or sickness business. The appointed actuary shall utilize the actuary’s professional judgment in performing the asset 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 relative to the adequacy of reserves and related items. This subchapter shall be applicable to all annual statements filed with the commissioner after the effective date of this subchapter. A statement of opinion on the adequacy of the reserves and related actuarial items based on an asset adequacy analysis in accordance with section 16-169-7, and a memorandum in support thereof in accordance with section 16-169-8, shall be required each year. [Eff 10/4/97; am and comp 9/28/09; comp 8/02/12] (Auth: HRS §§431:2-201, 431:5- 307, 431:5-401, 432:1-407, 432:2-601, 432:2-602) (Imp: HRS §§431:2-201, 431:3-301, 431:3-302, 431:5-307, 431:5-401, 432:1-303, 432:1-407, 432:2-401, 432:2-601, 432:2-602) §16-169-4 169-3