P/C Actuarial Opinion Instructions with Revised Qualified Actuary Definition

In August 2017 the NAIC, in collaboration with a consultant, began a Job Analysis Project to revise requirements for the Property/Casualty (P/C) Statement of Actuarial Opinion ("Actuarial Opinion") using an evidence-based definition of a "Qualified Actuary." The resulting proposed instructions incorporate an expanded definition of "Qualified Actuary" based largely on the results of the Job Analysis Project, with the addition of professionalism requirements.

The instructions with definition are exposed for a 45-day comment period ending Monday, Feb. 12. Please send comments to Kris DeFrain, Director of Research and Actuarial Services, at kdefrain@naic.org.

The consultant's report and recommended definition are also available here.