OAR 836-011-0015
Property and Casualty Actuarial Opinion of Reserves and Supporting Documentation

(1)

Each authorized insurer transacting property or casualty insurance in this state, unless otherwise exempted by the domiciliary commissioner, shall submit annually to the Director of the Department of Consumer and Business Services the opinion of an appointed actuary as provided in this section. The opinion shall be entitled “Statement of Actuarial Opinion” and shall be filed in accordance with the annual statement instructions adopted pursuant to OAR 836-011-0000 (Annual Statement Blank and Instructions).

(2)

Intentionally left blank —Ed.

(a)

Every property and casualty insurer domiciled in this state that is required to submit a Statement of Actuarial Opinion under section (1) of this rule shall annually submit an actuarial opinion summary, written by the insurer’s appointed actuary. The actuarial opinion summary shall be filed in accordance with the annual statement instructions adopted pursuant to OAR 836-011-0000 (Annual Statement Blank and Instructions) and shall be considered as a document supporting the actuarial opinion required under section (1) of this rule.

(b)

An insurer authorized to transact insurance in this state but not domiciled in this state shall provide the actuarial opinion summary upon request.

(3)

Intentionally left blank —Ed.

(a)

Every property and casualty insurer domiciled in this state that is required to submit a Statement of Actuarial Opinion under section (1) of this rule shall prepare an actuarial report and underlying work papers. The actuarial report and underlying work papers shall be prepared to support each actuarial opinion and shall be in accordance with the annual statement instructions adopted pursuant to OAR 836-011-0000 (Annual Statement Blank and Instructions).

(b)

If an insurer fails to provide a supporting actuarial report or work papers at the request of the director or if the director determines that the supporting actuarial report or work papers provided by the insurer is otherwise unacceptable to the director, the director may engage a qualified actuary at the expense of the insurer to review the opinion and the basis for the opinion and prepare any supporting actuarial report or work papers required by the director. Before the director engages a qualified actuary under this subsection, the director shall first identify the supporting actuarial report or work papers the insurer has failed to provide or the reason the report or work papers are unacceptable and allow the insurer a reasonable time to remedy the deficiency.

(4)

Except in cases of fraud or willful misconduct, an appointed actuary shall not be liable for damages to any person other than the insurer or the director for any act, error, omission, decision or conduct with respect to the actuary’s opinion.

(5)

The Statement of Actuarial Opinion shall be provided with the annual statement in accordance with the appropriate property and casualty annual statement instructions adopted pursuant to OAR 836-011-0000 (Annual Statement Blank and Instructions) and shall be treated as a public document.

(6)

Documents, material or other information in the possession or control of the department that are considered an actuarial report, work papers or an actuarial opinion summary provided in support of a Statement of Actuarial Opinion, and any other material provided by the insurer to the director in connection with an actuarial report, work papers or actuarial opinion summary, is confidential as provided in ORS 705.137 (Information that is confidential or not subject to disclosure).

Source: Rule 836-011-0015 — Property and Casualty Actuarial Opinion of Reserves and Supporting Documentation, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=836-011-0015.

836–011–0000
Annual Statement Blank and Instructions 836–011–0015
Property and Casualty Actuarial Opinion of Reserves and Supporting Documentation 836–011–0020
Definitions 836–011–0022
Filing Procedures 836–011–0024
Contents of Corporate Governance Annual Disclosure 836–011–0030
Own Risk and Solvency Assessment 836–011–0050
Requirements for Segregation of Premium Received for Coverage Not Eligible for Federal Subsidies 836–011–0100
Authority 836–011–0110
Definitions 836–011–0120
Filing and Extensions for Filing of Annual Audited Financial Reports 836–011–0130
Exemptions 836–011–0140
Contents of Annual Audited Financial Report 836–011–0150
Designation of Independent Certified Public Accountant 836–011–0160
Qualifications of Independent Certified Public Accountant 836–011–0170
Consolidated or Combined Audits 836–011–0180
Scope of Audit and Report of Independent Certified Public Accountant 836–011–0190
Notification of Adverse Financial Condition 836–011–0200
Communication of Internal Control Related Matters Noted in an Audit 836–011–0210
Accountant’s Letter of Qualifications 836–011–0220
Definition, Availability and Maintenance of Independent Certified Public Accountants Workpapers 836–011–0223
Requirements for Audit Committee 836–011–0224
Internal Audit Function Requirements 836–011–0225
Conduct of Insurer in Connection with the Preparation of Required Reports and Documents 836–011–0227
Management’s Report of Internal Control over Financial Reporting 836–011–0230
Canadian and British Companies 836–011–0235
Effective Dates 836–011–0250
Authority 836–011–0253
Definitions 836–011–0255
Reserve Adequacy 836–011–0258
Unallocated Reserve Account 836–011–0260
Distribution of Annual Financial Statement 836–011–0300
Statutory Authority 836–011–0305
Definitions 836–011–0310
RBC Reports 836–011–0320
Company Action Level Event 836–011–0330
Regulatory Action Level Event 836–011–0340
Authorized Control Level Event 836–011–0350
Mandatory Control Level Event 836–011–0360
Hearings 836–011–0380
Supplemental Provisions 836–011–0390
Foreign Insurers 836–011–0430
Scope and Authority 836–011–0440
Report 836–011–0450
Acquisitions and Dispositions of Assets 836–011–0460
Nonrenewals, Cancellations or Revisions of Ceded Reinsurance Agreements 836–011–0500
Application 836–011–0505
Definitions 836–011–0510
RBC Reports 836–011–0515
Company Action Level Event 836–011–0520
Regulatory Action Level Event 836–011–0525
Authorized Control Level Event 836–011–0530
Mandatory Control Level Event 836–011–0535
Hearings 836–011–0540
Supplemental Provisions 836–011–0545
Foreign Health Care Service Contractors 836–011–0600
Report on Services Provided by Expanded Practice Dental Hygienists
Last Updated

Jun. 8, 2021

Rule 836-011-0015’s source at or​.us