Section 26-A2900. SCOPE

 

2900.1This chapter shall apply to all life insurance companies and fraternal benefit societies doing business in the District of Columbia 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 the District of Columbia. This chapter shall be applied in a manner that allows the appointed actuary to utilize his or her 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 chapter shall be applicable to all annual statements filed with 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 2902 of this chapter, and a memorandum in support thereof in accordance with section 2903 of this chapter, shall be required each year.

 

source

Final Rulemaking published at 52 DCR 2438(March 11, 2005).