20-385

20-385. Filing of rates

A. Except as to marine, inland marine and transportation risks, which by general
custom of the business are not written according to manual rates and rating plans, and
except as provided in subsection F of this section or section 20-400.10, every authorized
insurer and every rate service organization which has been designated by any insurer for
the filing of rates pursuant to section 20-387, subsection B shall file with the director
all rates and supplementary rate information and all changes and amendments to those
rates made by it for use in this state within thirty days after they become
effective. If a rate service organization files prospective loss costs on behalf of its
member insurers with the director, each member insurer that adopts the rate service
organization's prospective loss costs shall file, on a form approved by the director, the
loss cost adjustment and loss cost modification factors applicable to the prospective
loss costs filed by the rate service organization. Each member insurer that does not
adopt or that delays adoption of the loss costs filed by the rate service organization
shall notify the director of that decision, in a form acceptable to the director, within
thirty days after the effective date of the prospective loss costs.

B. For any filing made pursuant to subsection A of this section, the director may
require the filing of supporting data including:

1. The experience and judgment of the filer.

2. The experience and judgment of other insurers or rate service organizations.

3. The filer's interpretation of any statistical data relied upon.

4. A description of the methods used in making the rates.

5. A description of the methods used and statistics relied on by the insurer in
developing its loss cost modification factor and providing its loss cost adjustment.

6. A description of the methods used and statistics relied on by the rate service
organization in developing its prospective loss costs filing.

C. An insurer is not required to file with the director the insurer's final rate
pages that combine the prospective loss costs separately filed by the rate service
organization with the loss cost modification factor filed by the insurer.

D. For the purposes of this section, an insurer does not need to file with the
director the insurer's final rate pages that combine the prospective loss costs with the
loss cost adjustments.

E. On written consent of the insured stating the insured's reasons, the insurer may
use a rate in excess of that provided by an otherwise applicable filing on a specific
risk, if that rate is filed with the director pursuant to subsection A of this section.

F. For as long as the director deems proper, the director by order may exempt from
the requirements of this section any insurance rate, rating class, rating rule or rating
program or type the filing of which in the director's opinion is not desirable or
necessary for the protection of the public.

G. If, after a hearing, the director finds that a particular market is
noncompetitive, the director shall order that all rates or rate changes and all
supplementary rate information in the noncompetitive market be filed with the director at
least thirty days before the effective date. The order remains in effect until the
director determines that a competitive market has been restored.