Okla. Stat. tit. 36, § 36-6470.12
This is the official text of Okla. Stat. tit. 36, § 36-6470.12, part of Oklahoma’s Stat. tit. 36, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 36,." Browse the sections below, each linked to its official government source.
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Discounting of loss and loss adjustment expense
Official statutory text
reserves – Actuarial opinion.
A. Upon written application, accompanied by such information as
the Commissioner requires, the Insurance Commissioner may grant
permission to a sponsored captive insurance company or a special
purpose captive insurance company to discount loss and loss
adjustment expense reserves at treasury rates applied to the
Oklahoma Statutes - Title 36. Insurance Page 1221
applicable payments projected through the use of the expected
payment pattern associated with the reserves.
B. A sponsored captive insurance company and a special purpose
captive insurance company, and any captive insurer, at the
Commissioner's discretion, shall file annually an actuarial opinion
on the company's loss and loss adjustment expense reserves or life
and health policy and claim reserves, as applicable. The individual
who prepares the Statement of Actuarial Opinion must be independent
of the captive company and its affiliates.
C. The Insurance Commissioner may disallow the discounting of
reserves if a captive insurance company violates a provision of this
title.
A. Upon written application, accompanied by such information as
the Commissioner requires, the Insurance Commissioner may grant
permission to a sponsored captive insurance company or a special
purpose captive insurance company to discount loss and loss
adjustment expense reserves at treasury rates applied to the
Oklahoma Statutes - Title 36. Insurance Page 1221
applicable payments projected through the use of the expected
payment pattern associated with the reserves.
B. A sponsored captive insurance company and a special purpose
captive insurance company, and any captive insurer, at the
Commissioner's discretion, shall file annually an actuarial opinion
on the company's loss and loss adjustment expense reserves or life
and health policy and claim reserves, as applicable. The individual
who prepares the Statement of Actuarial Opinion must be independent
of the captive company and its affiliates.
C. The Insurance Commissioner may disallow the discounting of
reserves if a captive insurance company violates a provision of this
title.
Status: in_force · Read it on the official government site
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