(a)  All credit unemployment minimum incurred loss ratio compliance demonstrations shall be submitted to and stamped received by the Life and Health Division.  All submitted demonstrations shall be submitted no later than March 31of each calendar year, to become effective during the calendar year of submission, with the exception of submitted demonstrations for use in calendar years 1994 through 1996.

(b)  All experience used in the demonstration of compliance shall be only North Carolina experience.

(c)  All compliance demonstrations shall be submitted, in accordance with this Rule, to the Life and Health Division each succeeding year for reevaluation.

(d)  The following information shall be submitted in regards to the qualified actuary:

(1)           Name of the qualified actuary;

(2)           Professional designations of the qualified actuary, e.g. A.S.A., F.S.A., or M.A.A.A.;

(3)           Name and address of the company or actuarial consulting firm employing the qualified actuary; and

(4)           Telephone number (including extension) of the qualified actuary.

(e)  The qualified actuary shall include in the credit unemployment rate request a written statement certifying the following:

(1)           That the qualified actuary (name of qualified actuary) has reviewed Rules .0501 through .0504 of this Section;

(2)           That the qualified actuary certifies that all submitted calculations and data preparation are in conformity with Rules .0501 through .0504 of this Section; and

(3)           All data submitted are accurate and in conformity with Rule .0502 of this Section.


History Note:        Authority G.S. 58-2-40; 58-57-70; 58-57-110(a);

Eff. January 1, 1994;

Amended Eff. November 1, 2011.