Section 992 - DefinitionsAs used in this subchapter, unless the context otherwise indicates, the following terms have the following meanings. [2007, c. 281, §2(NEW); 2007, c. 281, §3(AFF).]
1.Covered kinds of insurance. "Covered kinds of insurance" means property insurance as defined in section 705 and casualty insurance as defined in section 707 and does not include health insurance as defined in section 704, unless required by the applicable NAIC annual statement instructions to be included in the property and casualty actuarial opinion of a casualty insurer or multiple lines insurer, or property insurance written by domestic mutual assessment insurers pursuant to chapter 51.A. [2013, c. 238, Pt. C, §10(RP).]B. [2013, c. 238, Pt. C, §10(RP).] [2013, c. 238, Pt. C, §10(RPR).]
2.NAIC.[2021, c. 521, §27(RP).]
3.Qualified actuary. "Qualified actuary" means a person who is a member of the American Academy of Actuaries who has obtained a designation either as a fellow or an associate in the Casualty Actuarial Society and, if an associate, has at least 5 years' experience in actuarial practice obtained in the covered kinds of insurance. [2007, c. 281, §2(NEW); 2007, c. 281, §3(AFF).]
Amended by 2022, c. 521,§ 27, eff. 3/29/2022.Amended by 2013, c. 238,§ C-10, eff. 10/9/2013.2007, c. 281, § 2 (NEW) . 2007, c. 281, § 3 (AFF) .