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What We Say In The Naic Annual Statement Blank Actuarial Opinion, Kenneth W. Faig Jr.
What We Say In The Naic Annual Statement Blank Actuarial Opinion, Kenneth W. Faig Jr.
Journal of Actuarial Practice (1993-2006)
The new language adopted for the actuarial opinion in the National Association of Insurance Commissioners' model actuarial opinion and memorandum regulation has been weakened at the same time the responsibilities of the opining actuary have been increased. The restoration of stronger language to the actuarial opinion would enhance the professional image of the actuary. If the legal environment for professional liability inhibits such a change, the opinion should be changed to describe more precisely the work performed and the conclusion reached by the actuary.