DAR File No. 43220

This notice was published in the October 15, 2018, issue (Vol. 2018, No. 20) of the Utah State Bulletin.

Insurance, Administration

Rule R590-162

Actuarial Opinion and Memorandum Rule

Five-Year Notice of Review and Statement of Continuation

DAR File No.: 43220
Filed: 09/21/2018 10:25:42 AM


Concise explanation of the particular statutory provisions under which the rule is enacted and how these provisions authorize or require the rule:

This rule sets standards and the wording to be used in an actuarial opinion and memorandum as required in Section 31A-17-503. The opinion and memorandum are to be filed by all life and fraternal insurance companies along with their annual statements.

Summary of written comments received during and since the last five-year review of the rule from interested persons supporting or opposing the rule:

The Insurance Department received two written comments from members of the industry during the past five years. Both were submitted in response to amendments the Department made to this rule in 2015 and both were supportive of the changes.

Reasoned justification for continuation of the rule, including reasons why the agency disagrees with comments in opposition to the rule, if any:

This rule must be continued because it is an important requirement for financial regulators to gain a comfort level for insurance company reserves and for asset adequacy and liability matching. This rule is also required by the National Association of Insurance Commissioners for Utah to keep its national accreditation.

The full text of this rule may be inspected, during regular business hours, at the Office of Administrative Rules, or at:

SALT LAKE CITY, UT 84114-1201

Direct questions regarding this rule to:

  • Steve Gooch at the above address, by phone at 801-538-3803, by FAX at 801-538-3829, or by Internet E-mail at sgooch@utah.gov



Authorized by:

Steve Gooch, Information Specialist

Additional Information

More information about a Five-Year Notice of Review and Statement of Continuation is available online.

The Portable Document Format (PDF) version of the Bulletin is the official version. The PDF version of this issue is available at https://rules.utah.gov/publicat/bull_pdf/2018/b20181015.pdf. The HTML edition of the Bulletin is a convenience copy. Any discrepancy between the PDF version and HTML version is resolved in favor of the PDF version.

For questions regarding the content or application of this rule, please contact Steve Gooch at the above address, by phone at 801-538-3803, by FAX at 801-538-3829, or by Internet E-mail at sgooch@utah.gov.  For questions about the rulemaking process, please contact the Office of Administrative Rules.