MS HB435

Reenacts Mississippi Code sections 83-5-501 through 83-5-505, known as the "Property and Casualty Actuarial Opinion Act," which require property and casualty insurers doing business in Mississippi to submit annual actuarial opinions from appointed actuaries

Requires insurers domiciled in Mississippi to submit annual Actuarial Opinion Summaries and supporting actuarial reports and workpapers in accordance with National Association of Insurance Commissioners (NAIC) guidelines; non-domiciled licensed insurers must provide summaries upon request

Authorizes the insurance commissioner to engage a qualified actuary at the insurer's expense to review and prepare actuarial reports or workpapers if an insurer fails to provide adequate supporting documentation

Designates the Statement of Actuarial Opinion as a public document while making underlying actuarial reports, workpapers, and opinion summaries confidential and privileged, exempt from public records requests, subpoena, discovery, and civil litigation

Repeals the sunset provision (Section 83-5-507) that would have terminated the Property and Casualty Actuarial Opinion Act, making the law permanent; effective July 1, 2012