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Title 3 . Commerce, Community, and Economic Development
Chapter 21 . Miscellaneous
Section 845. Definitions

3 AAC 21.845. Definitions

In 3 AAC 21.800 - 3 AAC 21.845, unless the context requires otherwise,

(1) "actuarial opinion" means the opinion of an appointed actuary regarding the adequacy of the reserves and related actuarial items based on an asset adequacy test performed under 3 AAC 21.800 - 3 AAC 21.845.

(2) "Actuarial Standards Board" means the board established by the American Academy of Actuaries to develop and adopt standards of actuarial practice;

(3) "annual statement" means the statement required to be filed by an authorized insurer under AS 21.09.200 ;

(4) "appointed actuary" means a qualified actuary who is appointed or retained by a company to provide an actuarial opinion and prepare a supporting memorandum under AS 21.18.110 ;

(5) "company" means an insurer, a fraternal benefit society, or a reinsurer that is required to comply with 3 AAC 21.800 - 3 AAC 21.845;

(6) "director" means the director of insurance;

(7) Repealed 1/1/2005.

History: Eff. 9/1/96, Register 139; am 1/1/2005, Register 172

Authority: AS 21.06.090

AS 21.09.200

AS 21.18.110

AS 21.18.160

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Last modified 7/05/2006