Pursuant to Chapter 30A and the authority granted to the Commissioner of Insurance under Chapter 175, § 9B and Chapter 176, §41 of the Massachusetts General Laws, a hearing will be held at the Division of Insurance, One South Station, Boston, MA 02110-2208 on January 5, 2010 at 10:00 a.m.
The purpose of this hearing is to afford all interested persons an opportunity to provide oral and written comments regarding the proposed amendment of regulation 211 CMR 132.00, Actuarial Opinion and Memorandum Regulation. 211 CMR § 132.00 prescribes requirements for statements of actuarial opinion, rules applicable to the appointment of an appointed actuary and gives guidance as to the meaning of adequacy of reserves.
The proposed amendment to 211 CMR § 132.00 Proposed (Clean) , Proposed (Redlined) clarifies the details required in the Regulatory Asset Adequacy Issues Report, by providing an example of interim results that may be of concern to the appointed actuary.
The proceedings concerning the proposed amendment to 211 CMR 132.00 shall be designated as Docket # G-2009-08. Any person who wishes to provide oral comment concerning this proposed regulation must file a Notice of Intent to Comment with the Docket Clerk no later than January 4, 2010. Persons wishing to submit written comments may do so until the record of the hearing is closed. All submissions must be sent to the Docket Clerk, Hearings and Appeals, Division of Insurance, One South Station, Boston, MA 02110-2208 and must refer to Docket # G2009-08. Persons who do not file such a Notice will be heard after those who do notify the Division of Insurance. Copies of the proposed regulation are available from the Division of Insurance.
Joseph G. Murphy
|Dated: December 10, 2009||Acting Commissioner of Insurance|