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Article (18)

IA-BOD-RES 9/2017 Effective from 23/3/2017

In addition to the reports of which shall be sent to the Authority in accordance with provisions of applicable Instructions, an Actuary shall submit special reports to the Authority in the following incidences:

  1. If it becomes evident that the financial or technical position of the Company will prevent it from meeting its obligations towards the Insureds and beneficiaries of insurance policies.
     
  2. If it becomes evident that the underwriting policy of the Company will expose the financial position of the Company to risk.
     
  3. In case of the Actuary’s rejection of or reservation against the content of any report required to be submitted to the Authority by the Company.
     
  4. If the management of the Company fails to enable him from duly performing his duties
     
  5. In case of the Actuary's resignation or dismissal, or cancellation of his accreditation by the Company.