Oregon Department of Consumer and Business Services, Insurance Regulation

Rule Rule 836-031-0620
Scope


(1)

OAR 836-031-0600 (Purpose) to 836-031-0690 (Additional Considerations for Analysis) apply to all life insurers transacting insurance in this state and to all life insurers that are authorized to reinsure life insurance, annuities or health insurance business in this state OAR 836-031-0600 (Purpose) to 836-031-0690 (Additional Considerations for Analysis) 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 and practices. However, the director may specify specific methods of actuarial analysis and actuarial assumptions when, in the director’s judgment, these specifications are necessary for an acceptable opinion to be rendered relative to the adequacy of reserves and related items.

(2)

OAR 836-031-0600 (Purpose) to 836-031-0690 (Additional Considerations for Analysis) shall be applicable to all annual statements filed with the office of the director after the effective date of this change to OAR 836-031-0600 (Purpose) to 836-031-0690 (Additional Considerations for Analysis). A statement of opinion on the adequacy of the reserves and related actuarial items based on an asset adequacy analysis in accordance with 836-031-0670 (Statement of Actuarial Opinion Based On an Asset Adequacy Analysis) and a memorandum in support thereof in accordance with 836-031-0680 (Description of Actuarial Memorandum Including an Asset Adequacy Analysis and Regulatory Asset Adequacy Summary) are required each year.
Source

Last accessed
Jun. 8, 2021