11 N.C. Admin. Code 16.0503

Current through Register Vol. 39, No. 12, December 1, 2024

Section 16 .0503 - GENERAL SUBMISSION REQUIREMENTS

(a) All credit unemployment minimum incurred loss ratio compliance demonstrations shall be submitted to the Life and Health Division upon request.

(b) All experience used in the demonstration of compliance shall be only North Carolina experience.

(c) All compliance demonstrations shall be submitted, in accordance with this Rule, to the Life and Health Division each succeeding year for reevaluation.

(d) The following information shall be submitted in regards to the qualified actuary:

(1) the name of the qualified actuary;

(2) the professional designations of the qualified actuary;

(3) the name and address of the company or actuarial consulting firm employing the qualified actuary; and

(4) the telephone number, including extension, of the qualified actuary.

(e) The qualified actuary shall include in the credit unemployment rate request a written statement certifying the following:

(1) that the qualified actuary has reviewed Rules .0501 through .0504 of this Section;

(2) that the qualified actuary certifies that all submitted calculations and data preparation are in conformity with Rules .0501 through .0504 of this Section; and

(3) that all data submitted are accurate and in conformity with Rule .0502 of this Section.

11 N.C. Admin. Code 16 .0503

Authority G.S. 58-2-40; 58-57-70; 58-57-110(a);
Eff. January 1, 1994;
Amended Eff. November 1, 2011;
Readopted Eff. October 1, 2018.

Authority G.S. 58-2-40; 58-57-70; 58-57-110(a);
Eff. January 1, 1994;
Amended Eff. November 1, 2011.

Readopted by North Carolina Register Volume 33, Issue 09, November 1, 2018 effective 10/1/2018.