(a) With the exceptionof inland marine insurance that is not written according to manual rates andrating plans, every admitted insurer and every licensed statisticalorganization, which has been designated by any insurer for the filing of ratesunder G.S. 58‑40‑40, shall file with the Commissioner all rates andall changes and amendments thereto made by it for use in this State prior tothe time they become effective.
(b) The Commissionermay require the filing of supporting data including:
(1) The experience andjudgment of the filer, and to the extent the filer wishes or the Commissionerrequires, of other insurers or rating organizations;
(2) The filer'sinterpretation of any statistical data relied upon; and
(3) Descriptions of themethods employed in setting the rates.
(c) Upon writtenconsent of the insured stating the insured's reasons, a rate or deductible orboth in excess of that provided by an otherwise applicable filing may be usedon a specific risk, in accordance with rules adopted by the Commissioner. Theinsurer is not required to obtain the written consent of the insured on anyrenewal of or endorsement to the policy if the policy renewal or endorsementstates that the rates or deductible, or both, are greater than those rates ordeductibles, or both, that are applicable in the State of North Carolina. Theinsurer shall retain the signed consent form and other policy information foreach insured and make this information available to the Commissioner, uponrequest of the Commissioner.
(d) This section andG.S. 58‑41‑50 shall be construed in pari materia. (1977, c. 828, s. 2; 1985(Reg. Sess., 1986), c. 1027, s. 17; 1987, c. 441, s. 8; 1995 (Reg. Sess.,1996), c. 668, s. 2; 2005‑210, s. 4.)
(a) With the exceptionof inland marine insurance that is not written according to manual rates andrating plans, every admitted insurer and every licensed statisticalorganization, which has been designated by any insurer for the filing of ratesunder G.S. 58‑40‑40, shall file with the Commissioner all rates andall changes and amendments thereto made by it for use in this State prior tothe time they become effective.
(b) The Commissionermay require the filing of supporting data including:
(1) The experience andjudgment of the filer, and to the extent the filer wishes or the Commissionerrequires, of other insurers or rating organizations;
(2) The filer'sinterpretation of any statistical data relied upon; and
(3) Descriptions of themethods employed in setting the rates.
(c) Upon writtenconsent of the insured stating the insured's reasons, a rate or deductible orboth in excess of that provided by an otherwise applicable filing may be usedon a specific risk, in accordance with rules adopted by the Commissioner. Theinsurer is not required to obtain the written consent of the insured on anyrenewal of or endorsement to the policy if the policy renewal or endorsementstates that the rates or deductible, or both, are greater than those rates ordeductibles, or both, that are applicable in the State of North Carolina. Theinsurer shall retain the signed consent form and other policy information foreach insured and make this information available to the Commissioner, uponrequest of the Commissioner.
(d) This section andG.S. 58‑41‑50 shall be construed in pari materia. (1977, c. 828, s. 2; 1985(Reg. Sess., 1986), c. 1027, s. 17; 1987, c. 441, s. 8; 1995 (Reg. Sess.,1996), c. 668, s. 2; 2005‑210, s. 4.)
(a) With the exceptionof inland marine insurance that is not written according to manual rates andrating plans, every admitted insurer and every licensed statisticalorganization, which has been designated by any insurer for the filing of ratesunder G.S. 58‑40‑40, shall file with the Commissioner all rates andall changes and amendments thereto made by it for use in this State prior tothe time they become effective.
(b) The Commissionermay require the filing of supporting data including:
(1) The experience andjudgment of the filer, and to the extent the filer wishes or the Commissionerrequires, of other insurers or rating organizations;
(2) The filer'sinterpretation of any statistical data relied upon; and
(3) Descriptions of themethods employed in setting the rates.
(c) Upon writtenconsent of the insured stating the insured's reasons, a rate or deductible orboth in excess of that provided by an otherwise applicable filing may be usedon a specific risk, in accordance with rules adopted by the Commissioner. Theinsurer is not required to obtain the written consent of the insured on anyrenewal of or endorsement to the policy if the policy renewal or endorsementstates that the rates or deductible, or both, are greater than those rates ordeductibles, or both, that are applicable in the State of North Carolina. Theinsurer shall retain the signed consent form and other policy information foreach insured and make this information available to the Commissioner, uponrequest of the Commissioner.
(d) This section andG.S. 58‑41‑50 shall be construed in pari materia. (1977, c. 828, s. 2; 1985(Reg. Sess., 1986), c. 1027, s. 17; 1987, c. 441, s. 8; 1995 (Reg. Sess.,1996), c. 668, s. 2; 2005‑210, s. 4.)
