rate filing methods for property/casualty insurance, worker's

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NAIC’s Compendium of State Laws on Insurance Topics RATE FILING METHODS FOR PROPERTY/CASUALTY INSURANCE, WORKER’S COMPENSATION, TITLE STATE CITATION FILING METHOD LINES COMMENTS UT § 31A-19a-203 use and file (30 days) p/c Commissioner may disapprove within 90 days after (5/06) filed. May by rule specify rates be filed 30 days before become effective. § 31A-19a-209 file and use (30 days) title VT (5/06) §§ 31A-19a-405 tit. 8 § 4687 tit. 8 § 4688(a) (amendments pending) tit. 8 § 4688(c)(1) (amendments pending) tit. 8 § 4688(c)(2) (amendments pending) file and use (30 days) prior approval (30 day deemer) use and file (15 days) prior approval (30 day deemer) non-competitive market prior approval (30 day deemer) worker’s compensation worker’s compensation, experience rating plan, scheduled rating plan and statistical plan, uniform classification system p/c (except claims made and assigned risk), title and other types of worker’s compensation (voluntary market) claims made and noncompetitive market rates worker’s compensation and auto (assigned risk) © 2006 National Association of Insurance Commissioners II-PA-10-18 5/06 Rating bureau files loss costs; insurers file loss cost multipliers; Bulletin 90-6 is filing standard for loss costs.
§ 38.2-2703 § 38.2-1912.1 § 38.2-1903.1 § 38.2-1903 § 38.2-1906 § 38.2-1912 §§ 38.2-4608, 38.2-1902 NAIC’s Compendium of State Laws on Insurance Topics RATE FILING METHODS FOR PROPERTY/CASUALTY INSURANCE, WORKER’S COMPENSATION, TITLE STATE CITATION FILING METHOD LINES COMMENTS VA §§ 38.2-2003, 38.2-2005, 38.2- prior approval (60 day deemer) Residual markets for workers’ Bureau has rate approval authority for certificates of (5/06) 2006 compensation and automobile credit property insurance or credit involuntary (VAIP); home protection; credit unemployment insurance issued to Virginia consumers property; credit involuntary even if the master policy was issued or delivered in unemployment another state. prior approval approved by Commission Order after hearing no filing requirement allows exemptions/suspensions of rate filing requirements file and use in competitive market 60 day prior filing requirement for noncompetitive lines no filing requirement Property insurance residual market facility (FAIR Plan) Workers compensation loss costs Large commercial risks as defined in the statute Lines are stated in various administrative orders General liability; homeowners; fire; miscellaneous property & casualty; burglary & theft; glass; boiler & machinery; animal; fidelity; surety; credit; inland marine; farmowners; mortgage guaranty; commercial multi-peril; credit property; credit involuntary employment; automobile, professional liability and legal services P/C lines identified by commission order after hearing title Rate standards and process established by §§ 38.2- 2003, 38.2-2005 and 38.2-2006. © 2006 National Association of Insurance Commissioners II-PA-10-19 5/06 Voluntary market loss costs and residual market rates approved by Commission order after hearing. Does not apply to workers’ compensation, professional liability and commercial auto. Various administrative orders exempt or suspend rate filing requirements for specific lines or types of insurance products. Admin. Letter 1990-5 is filing standard for loss costs. Various administrative orders exempt or suspend rate filing requirements. Filing method is based on a finding of the existence of a competitive market.
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Page 5 and 6: § 627.062 (amendments pending) §
Page 7 and 8: § 27-1-22-2 § 27-7-2-20.2 NAIC’
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rate filing methods for property/casualty insurance, worker's

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