Insurance 900

CHAPTER Ins 900 ACTUARIES

Statutory Authority: RSA 400-A:15, I.

PART Ins 901 QUALIFICATION OF ACTUARIES

Ins 901.01 Scope. The provisions of this part shall apply to all reports, statements, and other documents filed with or provided to the insurance department or issued to the public in connection with the business of insurance.

Source. #1900, eff 1-1-82; ss by #4287, eff 7-1-87; ss by #5649, eff 7-1-93; ss by #7028, INTERIM, eff 7-1-99, EXPIRES: 10-29-99; ss by #7123, eff 10-29-99; ss by #8965, eff 9-1-07; ss by #10919, eff 9-1-15; ss by #14511, eff 2-7-26, EXPIRES: 2-7-36

Ins 901.02 Definitions. “Qualified actuary” means “qualified actuary” as defined in RSA 410:2, X.

Ins 901.03 Restriction on Use of Terms “Actuary” or “Actuarial”.

(a) No person shall represent themselves as an actuary to the insurance department unless such person is a qualified actuary.

(b) No person shall make any representation to the insurance department in which the term "actuary" or "actuarial" is used to indicate a degree of professional competence unless such representation was prepared or approved by a qualified actuary.

(c) No person who is a qualified actuary shall make any representations using the terms “actuary” or “actuarial” to the insurance department unless they are qualified to give the actuarial advice therein contained.

PART Ins 902 ACTUARIAL REVIEW OF RATE FILINGS

Ins 902.01 Scope. The provisions of this part shall apply to rate filings for classes of insurance that are now or shall hereafter be written in this state, submitted to the commissioner.

Source. #4498(E), eff 9-30-88; ss by #4576, eff 2-6-89; ss by #5649, eff 7-1-93; ss by #7028, INTERIM, eff 7-1-99, EXPIRES: 10-29-99; ss by #7123, eff 10-29-99; ss by #8965, eff 9-1-07; ss by #10919, eff 9-1-15; ss by #14511, eff 2-7-26, EXPIRES: 2-7-36

Ins 902.02 Review of Rate Filings. The commissioner shall, for the purpose of examining and analyzing rate filings, contract with a qualified actuary or actuarial firm employing qualified actuaries. The examination and analysis of any rate filing shall be undertaken by a contracting actuary or actuarial firm only when the insurance department is unable to provide the resources necessary to review such filings. The contracting actuary or actuarial firm shall provide advice to the commissioner on the rate filing and perform other actuarial services related to the rate filing as required.

Ins 902.03 Expense. The expense of the actuarial review required by this part and all other expenses associated with any actuarial services performed related to a rate filing shall be borne by the insurer or insurance advisory organization submitting the rate filing in accordance with RSA 400-A:37, III (d).

PART Ins 903 OTHER REQUISITE REPORTS AND DOCUMENTS

Ins 903.01 Signature of Actuary Required for Annual Statements. All annual statements of foreign, domestic, and alien life and accident and health insurance companies, fraternal benefit societies, hospital service corporations, and medical service corporations, which are required to be filed with the insurance commissioner, as well as other periodic financial statements of such companies as the insurance commissioner requires, shall be signed by a qualified actuary.

Source. #8965, eff 9-1-07 (formerly Ins 901.04); ss by #10919, eff 9-1-15; ss by #14511, eff 2-7-26, EXPIRES: 2-7-36

Ins 903.02 Actuarial Certification. All requisite actuarial certifications shall be prepared and signed by a qualified actuary.

Source. #8965, eff 9-1-07; ss by #10919, eff 9-1-15; ss by #14511, eff 2-7-26, EXPIRES: 2-7-36

PART Ins 904 LIMITATIONS

Ins 904.01 Limitations. Nothing in this chapter shall be construed to:

(a) Require any insurer or insurance advisory organization to employ an actuary;

(b) Require that rate filings be prepared or submitted by a qualified actuary; or

(c) Prohibit the strictly internal use by insurers or insurance advisory organizations of job titles containing the words “actuary” or “actuarial.”

Source. #8965, eff 9-1-07; ss by #10919, eff 9-1-15; ss by #14511, eff 2-7-26, EXPIRES: 2-7-36

Ins 904.02 Waiver of Rules.

(a) The commissioner, upon the commissioner’s own initiative or upon request by an insurer, shall waive any requirement of this part if such waiver does not contradict the objective or intent of the rule and:

(1) Applying the rule provision would cause confusion or would be misleading to consumers;

(2) The rule provision is in whole or in part inapplicable to the given circumstances;

(3) There are specific circumstances unique to the situation such that strict compliance with the rule would be onerous without promoting the objective or intent of the rule provision; or

(4) Any other similar extenuating circumstances exist such that application of an alternative standard or procedure better promotes the objective or intent of the rule provision.

(b) No requirement prescribed by statute shall be waived unless expressly authorized by law.

(d) A request for a waiver shall specify the basis for the waiver and proposed alternative, if any.

Source. #14511, eff 2-7-26, EXPIRES: 2-7-36

APPENDIX

RULE	STATUTE IMPLEMENTED

Ins 901.01	RSA 410:2
Ins 901.02	RSA 402-E:1; RSA 402-F:11; RSA 410:2, X
Ins 901.03	RSA 410:2
Ins 902.01	RSA 412; RSA 420-A; RSA 420-B; RSA 420-F: RSA 420-G
Ins 902.02	RSA 412; RSA 420-A; RSA 420-B
Ins 902.03	RSA 400-A:36-a
Ins 903.01	RSA 410:2
Ins 903.02	RSA 410:2
Ins 904.01	RSA 410:2
Ins 904.02	RSA 400-A:15, I; RSA 541-A:22, IV