2005 Arizona Revised Statutes - Revised Statutes §20-696  Scope of article

A. This article applies to all insurers authorized to transact life insurance and fraternal benefit societies doing business in this state and to all insurers and fraternal benefit societies that are authorized to reinsure life insurance, annuities or accident and health insurance business in this state.

B. This article applies to all annual statements filed with the director after the effective date of this article. Except for insurers that are exempt pursuant to section 20-696.03, all insurers shall file the following with the director each year:

1. A statement of opinion on the adequacy of the reserves and related actuarial items based on an asset adequacy analysis pursuant to section 20-696.05.

2. A memorandum in support of the statement of opinion pursuant to section 20-696.06.

C. An insurer that is exempt from filing pursuant to section 20-696.03 shall file a statement of actuarial opinion pursuant to section 20-696.04.

D. Notwithstanding subsections A and B of this section, the director may require an insurer that is otherwise exempt pursuant to this article to submit a statement of actuarial opinion and to prepare a memorandum in support of the actuarial opinion pursuant to sections 20-696.05 and 20-696.06 if the director determines that an asset adequacy analysis is necessary.