Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Subject to subsection (2), a private health insurer must have an actuary appointed by the insurer.
(2) Within 6 weeks after a person ceases to be the appointed actuary of a private health insurer, the insurer must appoint another person to be the actuary of the insurer.
(3) A private health insurer must not appoint a person as the actuary of the insurer unless the insurer is satisfied that the person meets the eligibility criteria set out in prudential standards for appointment as the actuary of a private health insurer.
(4) A private health insurer must not appoint a person as the actuary of the insurer if:
(a) the person is disqualified from being or acting as an actuary of the private health insurer because of an order under section 120; or
(b) the person is a disqualified person (other than only because of an order under section 120).
(5) An appointment of a person as actuary of a private health insurer cannot take effect while there is in force an appointment of another person as the actuary of the insurer.