What Does Qualified Actuary Mean?

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What does Qualified Actuary mean? Read on to discover the definition & meaning of the term Qualified Actuary - to help you better understand the language used in insurance policies.

Qualified Actuary

Qualified Actuary

a person who meets the basic education, experience and continuing education requirements (these differ by line of business) of the Specific Qualification Standard for Statements of Actuarial Opinion, NAIC Property and Casualty Annual Statement, as set forth in the Qualification Standards for Actuaries Issuing Statements of Actuarial Opinion in the United States, promulgated by the American Academy of Actuaries, and is in good standing of the American Academy of Actuaries who has been approved as qualified for signing casualty loss reserve opinions by the Casualty Practice Council of the American Academy of Actuaries.

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