Indiana Code Title 27. Insurance § 27-1-12.8-23

(1) annually submit the opinion of the appointed actuary concerning whether the reserves and related actuarial items held in support of the contracts:

according to the specific requirements prescribed by the Valuation Manual;  and

(2) except as exempted in the Valuation Manual, annually submit the opinion of the appointed actuary concerning whether the reserves and related actuarial items held in support of the contracts specified in the Valuation Manual, when considered with the assets held by the company with respect to the reserves and related actuarial items including the:

make adequate provision for the company's obligations, including benefits under, expenses associated with, and any other obligations under the contracts.

(1) A memorandum, in form and substance as specified in the Valuation Manual and acceptable to the commissioner, must be prepared to support each actuarial opinion.

(2) If:

the commissioner may engage a qualified actuary at the expense of the company to review the opinion and the basis for the opinion and prepare the supporting memorandum required by the commissioner.

(1) The opinion must be in form and substance as specified in the Valuation Manual and acceptable to the commissioner.

(2) The opinion must be submitted with the annual statement reflecting the valuation of the reserves for each year ending on or after the operative date of the Valuation Manual.

(3) The opinion must apply to all contracts subject to subsection (b)(2) plus other actuarial liabilities specified in the Valuation Manual.

(4) The opinion must be based on:

(5) In the case of an opinion required to be submitted by a foreign or alien company, the commissioner may accept the opinion filed by the company with the insurance supervisory official of another state if the commissioner determines that the opinion reasonably meets the requirements applicable to a company domiciled in Indiana.

(6) Except in cases of fraud or willful misconduct, the appointed actuary is not liable for damages to a person other than the company and the commissioner for any act, error, omission, decision, or conduct with respect to the appointed actuary's opinion.

(7) Disciplinary action by the commissioner against the company or the appointed actuary must be defined in rules adopted by the commissioner under IC 4-22-2.