§431:10A-406  Forms; rates; approval. (a)  The forms of the policies, applications, certificates, or other evidenceof insurance coverage, commission schedules, and applicable premium ratesrelating thereto shall be filed with the commissioner.

(b)  No policy, contract, certificate, or otherevidence of insurance, application, or other form shall be sold, issued, orused and no endorsement shall be attached to or printed or stamped thereonunless its form has been approved by the commissioner or thirty days haveexpired after such filing without written notice from the commissioner ofdisapproval.  The commissioner shall disapprove the forms for such insurance ifthe commissioner finds:

(1)  That they are unjust, inequitable, misleading, ordeceptive; or

(2)  That the rates are by reasonable assumptionsexcessive in relation to the benefits provided.

In determining whether the rates by reasonableassumptions are excessive in relation to the benefits provided, thecommissioner shall give due consideration to past and prospective claimexperience, within and outside this State, and to fluctuations in such claimexperience, to a reasonable risk charge, to contribution to surplus andcontingency funds, to past and prospective expenses, both within and outside thisState, and to all other relevant factors within and outside this State,including any differing operating methods of the insurers joining in the issueof the policy.  In exercising the powers conferred by this part, thecommissioner shall not be bound by any other requirement of this code withrespect to standard provisions to be included in accident and health orsickness policies or forms.

(c)  After hearing, upon written notice, thecommissioner may withdraw an approval previously given if the commissioner isof the opinion that an original submission would have been disapproved.  Suchwithdrawal of approval shall be effective not less than ninety days after thegiving of notice of withdrawal. [L 1987, c 347, pt of §2; am L 2003, c 212,§80]