§ 58-10-160. Actuarial report and work papers. - North Carolina Statutes

§ 58‑10‑160. Actuarial report and work papers.

(a)        An actuarial reportand underlying work papers as required by the appropriate NAIC Property andCasualty Annual Statement Instructions shall be prepared to support eachstatement of actuarial opinion and actuarial opinion summary.

(b)        If an insurancecompany fails to provide a supporting actuarial report or work papers at therequest of the Commissioner or if the Commissioner determines that thesupporting actuarial report or work papers provided by an insurance company areunsatisfactory to the Commissioner, the Commissioner may engage an independent,qualified actuary at the expense of the company to (i) review the opinion andthe basis for the opinion and (ii) prepare an actuarial report or work papers. (2007‑127, s. 15.)