MS HB1309

Reenacts Sections 83-5-501 through 83-5-505 of the Mississippi Code (Property and Casualty Actuarial Opinion Act), requiring property and casualty insurance companies doing business in Mississippi to annually submit a Statement of Actuarial Opinion from an appointed actuary.

Requires domiciled companies to submit an Actuarial Opinion Summary annually, while non-domiciled companies must provide it upon request, with both documents filed according to National Association of Insurance Commissioners (NAIC) instructions.

Mandates that actuarial reports and workpapers support each actuarial opinion, with the commissioner authorized to hire a qualified actuary at company expense if reports are not provided or are deemed unacceptable.

Makes the Statement of Actuarial Opinion a public document while protecting actuarial reports, workpapers, and Actuarial Opinion Summaries as confidential and privileged, exempt from public records requests, subpoena, and discovery in private civil actions.

Extends the repeal date of these provisions from June 30, 2012 to June 30, 2015, with the act effective July 1, 2012.