Concept of the Evaluation Actuary

In 1992 the NAIC adopted the concept of the appointed actuary with respect to loss reserve opinion. Now this concept is evolving into that of the evaluation actuary with the potential for broad responsibilities for opining on assets and surplus, as well as, insurer liabilities. This session explores the appointed actuary concept and the implications of the expanding role for actuaries in reporting on the general financial position of an insurer.