Section 304.50-125 - Discounting authorized - Requirements - Approval by commissioner(1) In the computation of the retained liabilities of the self-insured group, reserves for claims or projected reserves for claims may be discounted for their present value if: (a) The discounting is based upon the computation of a qualified actuary; and(b) The computations and supporting documentation are filed annually in writing with the commissioner.(2) Discounting shall be approved by the commissioner unless:(a) The actuary is found to be unqualified by the commissioner; or(b) The computations and supporting documentation presented by the actuary are rejected based on the opinion of the commissioner's qualified actuary.Effective:7/15/2010
Amended 2010, Ky. Acts ch. 24, sec. 1643, effective7/15/2010. -- Created 2005, Ky. Acts ch. 7, sec. 25, effective 3/1/2005.