• CIB 7.6 CIB 7.6 Qualifications of the Actuary

    • CIB 7.6.1

      An Actuary appointed to provide an actuarial report under this Chapter must:

      (a) be experienced in determining liabilities in the Classes of Business dealt with in the actuarial report;
      (b) have the required skill and experience to perform his functions under the Rules and Regulations; and
      (c) not perform the function of Chairman or Chief Executive Office of the Captive Insurer or any other function on behalf of the Captive Insurer which could give rise to a significant conflict of interest.

    • CIB 7.6.2

      A Captive Insurer must notify the Regulator in writing of the name, professional qualifications and relevant experience of each person that the Captive Insurer proposes to appoint to provide an actuarial report under this Chapter.

    • CIB 7.6.3

      The Regulator may, if it does not believe that the Actuary proposed by the Captive Insurer possesses the qualifications set out in Rule 7.6.1, notify the Captive Insurer in writing that another Actuary must be appointed.