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2018 Code of Alabama
Title 27 - INSURANCE.
Chapter 3 - AUTHORIZATION OF INSURERS.
Section 27-3-26.1 - Annual statement to include statement of qualified independent loss reserve specialist.
Universal Citation: AL Code § 27-3-26.1 (2018)
Section 27-3-26.1Annual statement to include statement of qualified independent loss reserve specialist.
Every property or casualty insurer required to file an annual statement with the commissioner on March 1 of each year preceding, pursuant to Section 27-3-26, shall include a statement of a qualified independent loss reserve specialist setting forth his or her opinion relating to loss and loss adjustment expense reserves. For the purposes of this section, a qualified independent loss reserve specialist shall mean a person who is not a principal, director, or indirect owner of the insurer and is a member of the Casualty Actuarial Society, or has such other actuarial experience as is acceptable to the commissioner to assure a professional opinion on the adequacy of loss and loss adjustment expense reserves.
(Acts 1993, No. 93-675, p. 1240, §10; Acts 1994, 1st Ex. Sess., No. 94-789, p. 92, §1.)
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