Section 0780-01-64-.04 - DEFINITIONSAs used in this Chapter, unless noted otherwise, the following definitions shall apply:
(1) "Actuarial Opinion" means the opinion of an appointed actuary regarding the adequacy of the reserves and related actuarial items based on an asset adequacy analysis in accordance with Rule 0780-01-64-.06 and with applicable Actuarial Standards of Practice.(2) "Actuarial Standards Board" means the board established by the American Academy of Actuaries to develop and promulgate standards of actuarial practice.(3) "Annual statement" means the statement required by T. C. A. § 56-1-501 or 56-25-1602 to be filed by the company with the commissioner annually. (4) "Appointed actuary" means an individual who is appointed or retained in accordance with the requirements set forth in Rule 0780-01-64-.05(3) to provide the actuarial opinion and supporting memorandum as required by T.C.A. § 56-1-402.(5) "Asset adequacy analysis" means an analysis that meets the standards and other requirements referred to in Rule 0780-01-64-.05(4).(6) "Commissioner" means the Commissioner of the Department of Commerce and Insurance.(7) "Company" means a life insurance company, fraternal benefit society or reinsurer subject to the provisions of this Chapter.(8) "Department" means the Department of Commerce and Insurance.(9) "NAIC" means the National Association of Insurance Commissioners.(10) "Qualified actuary" means an individual who meets the requirements set forth in Rule 0780-01-60-.05(2).Tenn. Comp. R. & Regs. 0780-01-64-.04
Original rule filed October 5, 1995; effective December 19, 1995. Amendment filed May 11, 2009; effective July 25, 2009.Authority: T.C.A. §§ 56-2-301, 56-1-402, 56-1-402(d)-(g), 56-1-501, 56-1-501(d), 56-25-1601 and 5625-1602.