Actuarial Standard of Practice, No. 36, Statements of Actuarial Opinion Regarding Property/Casualty Loss and Loss Adjustment Expense Reserves.

In 1978, to guide actuaries on their responsibilities, the American Academy of Actuaries adopted Financial Reporting Recommendation (FRR) 8, Statement of Actuarial Opinion for Fire and Casualty Insurance Company Statutory Annual Statements, along with Interpretations 8-A, 8-B, and 8-C. In order to replace Recommendation 8 and its Interpretations and to provide more consistent guidance to actuaries, the Actuarial Standards Board determined that the guidance in this area should be embodied in an actuarial standard of practice. The ASB assigned the project to the Subcommittee on Reserving of the Casualty Committee.