This Regulation prescribes guidelines and standards for statements of actuarial opinion (and supporting memorandum) submitted in accordance with 8 V.S.A. § 3561, § 3577, subchapter 4 of Chapter 103 and Chapter 121; establishes guidelines and standards for statements of actuarial opinion submitted when a company is exempt from 8 V.S.A. § 3577 or § 3782; sets forth rules applicable to the appointment of an appointed actuary. This regulation took effect beginning with annual statements filed for the year 1997.
This Regulation establishes and authorizes the fees, assessments or charges imposed by the National Association of Insurance Commissioners (NAIC) on Vermont domestic insurance companies for database filings and valuation of securities; establishes that the Commissioner will review annually the fees, assessments and charges imposed by the NAIC on Vermont domestic insurance companies for database filings and for valuation of securities.
This Regulation contains the Department's position that it is improper for a licensed insurer, in the capacity of ceding insurer, to enter into reinsurance agreements for the principal purpose of producing significant surplus aid for the ceding insurer, while not transferring all of the significant risks inherent in the business being reinsured; sets forth requirements for life and health reinsurance agreements.
This Regulation requires all health insurance policies and contracts, unless expressly excluded by this Regulation, to provide maternity coverage; defines applicability; sets forth the requirements for maternity coverage.