Section 1408.10  Purpose

The purpose of this Part is to prescribe:

a)         Guidelines and standards for statements of actuarial opinion which are to be submitted in accordance with the Illinois Insurance Code (Ill. Rev. Stat. 1991, ch. 73, par. 835(1a)(B)) and for memoranda in support thereof.

b)         Guidelines and standards for statements of actuarial opinion which are to be submitted when a company is exempt from Section 223(1a)(B) of the Illinois Insurance Code.

c)         Requirements applicable to the appointment of an appointed actuary.