Cost of SAO
In order to determine if the insurer is exempt from providing the SAO due to financial hardship, how is the cost of the SAO determined?
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In order to determine if the insurer is exempt from providing the SAO due to financial hardship, how is the cost of the SAO determined?
Comments
This is not discussed in the text so you wouldn't have to know it for the exam, but here is what I know:
The cost of obtaining a Statement of Actuarial Opinion (SAO) for U.S. insurers can vary depending on several factors. While there is no standardized cost calculation method, some key factors influencing the cost include:
The specific cost of the SAO would have to evaluated independently for each case.