20-341. Purpose of insurance rate regulation A. The purpose of this article is to promote the public welfare by regulating insurance rates to the end that they shall not be excessive, inadequate or unfairly discriminatory, and to authorize and regulate cooperative action among insurers in rate making and in other matters within the scope of […]
20-342. Scope and application of article A. This article does not apply to: 1. Life insurance. 2. Disability insurance. 3. Reinsurance, except joint reinsurance as provided in section 20-369. 4. Mortgage guaranty insurance. 5. Insurance against loss of or damage to aircraft, their hulls, accessories and equipment, or against liability, other than employers’ liability, arising […]
20-343. Definitions In this article, unless the context otherwise requires: 1. " Board" means the workers’ compensation appeals board established by section 20-367. 2. " Classification plan" means the plan or system that groups industries, occupations or operations with a similar exposure to loss into rate classifications for workers’ compensation rating, rate making and statistical […]
20-344. Uniform plans A. Except as provided in subsections B and C of this section, every rating organization and every insurer that transacts workers’ compensation insurance in this state shall adhere to plans approved by the director as the uniform statistical plan, uniform classification plan and uniform experience rating plan for the state. B. A […]
20-356. Making of rates All rates subject to this article shall be made in accordance with the following provisions: 1. Rates shall not be excessive, inadequate or unfairly discriminatory. No rate shall be held to be inadequate unless the director finds that the loss experience of the insurer in the classification covered by the rate […]
20-357. Filing of rating system; definition A. Every insurer shall file with the director the rating systems the insurer proposes to use. As used in the rate regulatory provisions of this article, " rating systems" includes every manual of classifications, rules and rates, every rating plan and every modification of any of the foregoing. Every […]
20-358. Disapproval of rates A. If at any time the director finds that a filing does not meet the standards set forth in section 20-356, he shall, after a hearing held upon not less than ten days’ written notice, in which he shall specify the matters to be considered at such hearing, to every insurer […]
20-359. Deviations from filed workers’ compensation rates A. Every insurer shall adhere to the filings made by the rating organization of which it is a member, except that any member insurer may file with the director: 1. Up to six uniform percentage deviations that decrease or increase the statewide rate portion of the rating organization’s […]
20-361. Licensing of rating organizations A. A corporation, an unincorporated association, a partnership or an individual, whether located within or outside this state, may apply to the director for a license as a rating organization for insurance subject to this article and shall file all of the following with the director: 1. A copy of […]
20-362. Notice to director of changes in rating organization Every rating organization shall notify the director promptly of every change in: 1. Its constitution, its articles of agreement or association, or its certificate of incorporation, and its bylaws, rules and regulations governing the conduct of its business. 2. Its list of members and subscribers. 3. […]
20-363. Availability of services of rating organization to members A. Subject to rules and regulations that have been approved by the director as reasonable, each workers’ compensation rating organization shall permit any insurer writing workers’ compensation insurance in this state to become a member. The rating organization shall give its members notice of proposed changes […]
20-364. Technical services A. Any rating organization may provide for the examination of policies, daily reports, binders, renewal certificates, endorsements or other evidence of insurance, or the cancellation thereof, and may make reasonable rules governing their submission. Such rules shall contain a provision that in the event any insurer does not within sixty days furnish […]
20-365. Cooperation in rate making Cooperation among rating organizations and among rating organizations and insurers in rate making and in other matters within the scope of this article is authorized, if the filings resulting from such cooperation are subject to the provisions of this article. The director may review such cooperative activities and practices and […]
20-366. Appeal by member or subscriber from action relating to filings A. Any member of or subscriber to a rating organization may appeal to the director from the action or decision of the rating organization in approving or rejecting any proposed change in or addition to the filings of the rating organization, and the director […]
20-367. Workers’ compensation appeals board; composition A. A workers’ compensation appeals board is established in the department. B. The director shall appoint at least nine but not more than eleven members to the board. The members shall serve three-year terms. A member shall not serve more than two consecutive terms. C. The board shall be […]
20-367.01. Appeals procedure A. Within a reasonable time after receiving a written request and on payment of a reasonable fee, every rating organization and insurer shall give to any insured affected by a rate that is made or applied by the organization or insurer, or to the insured’s authorized representative, all pertinent information related to […]
20-368. Advisory organizations A. Every group, association or other organization of insurers, whether located within or outside this state, which assists insurers which make their own filings or rating organizations in rate making, by the collection and furnishing of loss or expense statistics, or by the submission of recommendations, but which does not make filings […]
20-369. Joint underwriting or joint reinsurance A. Every group, association or other organization of insurers which engages in joint underwriting or joint reinsurance shall be subject to regulation with respect thereto as provided by this article, subject, however, with respect to joint underwriting, to all other provisions of this article, and with respect to joint […]
20-370. Examinations of rating organizations A. The director, as often as he deems it expedient, may make or cause to be made an examination of each rating organization licensed in this state, each advisory organization referred to in section 20-368 and each group, association or other organization referred to in section 20-369. The reasonable costs […]
20-371. Rate administration A. The director shall adopt reasonable rules and statistical plans that are reasonably adapted to each of the rating systems on file with the director and that may be modified from time to time. An insurer shall use the rules and statistical plans to record and report its loss and countrywide expense […]
