S.D. Admin. R. 20:06:37:07

Current through Register Vol. 51, page 67, December 16, 2024

Section 20:06:37:07 - Standards for asset adequacy analysis

The asset adequacy analysis required by this chapter:

(1) Must conform to the standards of practice in Actuarial Standard of Practice No. 22, "Statements of Opinion Based on Asset Adequacy Analysis by Appointed Actuaries for Life or Health Insurers" adopted by the Actuarial Standards Board, September 2001, and on any additional standards under this chapter. These standards must form the basis of the statement of actuarial opinion in accordance with §§ 20:06:37:29 to 20:06:37:39, inclusive;

(2) Shall be based on methods of analysis as are deemed appropriate for such purposes by the Actuarial Standards Board.

S.D. Admin. R. 20:06:37:07

23 SDR 236, effective 7/16/1997; 25 SDR 13, effective 8/9/1998; 26 SDR 26, effective 9/1/1999; 27 SDR 54, effective 12/4/2000; 30 SDR 39, effective 9/28/2003; 34 SDR 297, effective 6/2/2008.

General Authority: SDCL 58-26-47.

Law Implemented: SDCL 58-26-47.

Actuarial Standards of Practice, American Academy of Actuaries. Copies may be obtained free of charge on the website: http://www.actuarialstandardsboard.org/asops.htm.