Section 1408.10  Purpose

The purpose of this Part is to prescribe:

a)         Requirements for statements of actuarial opinion that are to be submitted in accordance with Section 223(1a) of the Illinois Insurance Code  and for memoranda in support of that opinion;

b)         Requirements applicable to the appointment of an appointed actuary; and

c)         Guidance as to the meaning of "adequacy of reserves".

(Source:  Amended at 32 Ill. Reg. 19670, effective January 1, 2009)