20-398. Policy forms; approval or disapproval;
exemption
A. Except for fidelity, surety or guaranty bonds or industrial insurance as
provided in section 20-400.10 and except as to inland marine risks that by general custom
of the business are not written according to manual rates or rating plans, no policy form
applying to insurance on risks or operations covered by this article may be delivered or
issued for delivery unless the form has been filed with the director and either the
director has issued, within thirty days, an order affirmatively approving or disapproving
the form or, the thirty day period has elapsed and the director has not disapproved the
form as ambiguous, misleading or deceptive. On written notice given within the thirty day
period to the person making the filing, the director may extend the period for up to
fifteen additional days to enable the director to complete the review of the filing.
B. The director may, by order, exempt from the requirements of this section, for as
long as the director deems proper, any insurance document or form as specified in the
order, to which, in the director's opinion, this section may not practicably be applied,
or the filing and approval of which are, in the director's opinion, not desirable or
necessary for the protection of the public.
|