2012 Maine Revised Statutes
TITLE 24-A: MAINE INSURANCE CODE
Chapter 11: ASSETS AND LIABILITIES
24-A §992. Definitions
Subchapter 5: PROPERTY AND CASUALTY ACTUARIAL OPINION
§992. Definitions
As 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" include:
A. Casualty insurance as defined in section 707; and [2007, c. 281, §2 (NEW); 2007, c. 281, §3 (AFF).]
B. Property insurance as defined in section 705. Property insurance written by domestic mutual assessment insurers pursuant to chapter 51 is not subject to the requirements of this subchapter. [2007, c. 281, §2 (NEW); 2007, c. 281, §3 (AFF).]
[ 2007, c. 281, §2 (NEW); 2007, c. 281, §3 (AFF) .]
2. NAIC. "NAIC" means the National Association of Insurance Commissioners.
[ 2007, c. 281, §2 (NEW); 2007, c. 281, §3 (AFF) .]
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) .]
SECTION HISTORY
2007, c. 281, §2 (NEW). 2007, c. 281, §3 (AFF).
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