Appointed Actuary
Actuary, appointed by the life insurance company, required by the national association of insurance commissioners (naic) under the naic: standard valuation law to provide an opinion as to the compliance of the insurance company's statutory statement with the law and the level of assets needed to support the statement of liabilities of the insurance company. In essence, this actuary is responsible for documenting the adequacy of the liability reserves according to the reserve liabilities regulation as established by the NAIC.
Popular Insurance Terms
Coverage in the event that stock sent to others for processing is damaged or destroyed en route or at their premises except those perils specifically excluded. For example, this coverage ...
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Modified endowment insurance policy under which the insured receives one-half the death benefit as the maturity value of the policy. ...
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