KANSAS
INSURANCE DEPARTMENT
Notice of Hearing on
Proposed
Administrative
Regulations
A public
hearing will be conducted at 1:30 p.m., May 5, 2005, in the third floor
conference room, Kansas Insurance Department, 420 S.W. 9th,
The 60-day
notice of the public hearing shall constitute a public comment period for
purpose of receiving written public comments on the proposed rules and
regulations. All interested parties may
submit written comments prior to the hearing to
A summary of the regulation and its
economic impact follows.
K.A.R. 40-1-44.
Actuarial opinions and memorandums. This proposed regulation adopts by reference
the Kansas Insurance Department’s policy and procedure relating to actuarial
opinions and memorandums dated July 9, 2004.
This regulation prescribes
requirements for statements of actuarial opinion that are submitted in
accordance with insurance laws and for the memoranda in support of those
statements. It also governs rules
applicable to the appointment of an appointed actuary and guidance as to the
meaning of “adequacy of reserves.”
This regulation applies to all life
insurance companies and fraternal benefit societies doing business in
This regulation, in essence, mirrors
the National Association of Insurance Commissioners’ Actuarial Opinions and
Memorandum.
The economic impact on companies,
the Kansas Insurance Department, and other governmental agencies is
nonexistent.
Any
individual with a disability may request accommodation in order to participate
in the public hearing and may request the proposed regulations and economic
impact statements in an accessible format.
Requests for accommodation to participate in the hearing should be made
at least 5 working days in advance by contacting Deletria Nash at (785)
296-4140. Any individual desiring a copy
of this regulation may obtain a copy from our website, www.ksinsurance.org,
under the Legal Issues link. Copies also
may be obtained by contacting Deletria Nash at (785)296-4140. The charge for copies is fifty cents per
page.