Section 8(h) in The Insurance Regulatory And Development Authority (Appointed Actuary) Regulations, 2000
(h)in the case of the insurer carrying on general insurance business to ensure-(i)that the rates are fair in respect of those contracts that are governed by the insurer's in-house tariff;(ii)that the actuarial principles, in the determination of liabilities, have been used in the calculation of reserves for incurred but not reported claims (IBNR) and other reserves where actuarial advice is sought by the Authority;
