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  • Termination of the Actuary Relationship with the Company

    • Article (19)

      1. The Company shall inform the Authority within seven days in the event of termination of the Actuary's relationship therewith for any reason along with a statement of the reasons for such termination. In which case, the Board of Directors of the Company shall appoint or accredit an alternative Actuary within thirty days from the date of termination of the former Actuary and shall continue to submit the relevant information as required.
         
      2. In the event the Authority has had evidence that the decision to terminate the Actuary's relationship with the Company was arbitrary, the Authority may investigate the issue, hear both parties, review the documents relevant to the issue and then provide the Insurance Company with its opinion.