Department of Consumer and Business Services
Insurance Regulation - Chapter 836
Division 31
ACCOUNTING AND INVESTMENTS (ORS CHAPTER 733); REHABILITATION AND LIQUIDATION OF INSURERS (ORS CHAPTER 734)
836-031-0690
Additional Considerations for Analysis
(1) Use of Assets Supporting the Interest Maintenance Reserve and the Asset Valuation Reserve. An appropriate allocation of assets in the amount of the Interest Maintenance Reserve (IMR), whether positive or negative, must be used in any asset adequacy analysis. Analysis of risks regarding asset default may include an appropriate allocation of assets supporting the Asset Valuation Reserve (AVR); these AVR assets may not be applied for any other risks with respect to reserve adequacy. Analysis of these and other risks may include assets supporting other mandatory or voluntary reserves available to the extent not used for risk analysis and reserve support. The amount of the assets used for the AVR shall be disclosed in the Table of Reserves and Liabilities of the opinion and in the memorandum. The method used for selecting particular assets or allocated portions of assets shall be disclosed in the memorandum.
(2) Documentation. The appointed actuary shall retain on file, for at least seven years, sufficient documentation so that it will be possible to determine the procedures followed, the analyses performed, the bases for assumptions and the results obtained.
Statutory/Other Authority: ORS 731.244
Statutes/Other Implemented: ORS 733.304
History:
ID 5-2011, f. & cert. ef. 2-23-11
ID 4-1993, f. 7-27-93, cert. ef. 7-30-93
ID 1-1993(Temp), f. & cert. ef. 2-4-93
ID 10-1992, f. & cert. ef. 5-27-92