Section 27-13-20 Definitions. For the purposes of this article, unless otherwise stated, the following terms shall have the meanings respectively ascribed to them by this section. (1) RATE. The unit charge by which the measure of exposure or the amount of insurance specified in a policy of insurance or covered thereunder is multiplied to determine […]
Section 27-13-21 Applicability of article – Generally. (a) This article shall apply to insurance against loss to property located in this state, or to any valuable interest therein, by fire, lightning, windstorm, explosion, or by theft or physical damage to motor vehicles and all other kinds of insurance which fire insurance companies are authorized to […]
Section 27-13-22 Applicability of article – Inland marine insurance. The provisions of this section shall apply to all insurance which is now or hereafter defined by statute, by ruling of the commissioner or by lawful custom as inland marine insurance, but this article shall not apply to insurance of vessels or craft, their cargoes, marine […]
Section 27-13-23 Applicability of article – Exemptions. Nothing in this article shall apply to any town or county farmers’ mutual fire insurance association restricting their operations to not more than one county or to domestic insurance companies, associations, orders, or fraternal benefit societies now doing business in this state on the assessment plan. (Acts 1945, […]
Section 27-13-24 Rating organizations – License; application therefor; renewal thereof; fee for same. (a) No rating organization shall do business in this state unless it shall have been licensed to do so by the commissioner. Application for such license shall be made on such forms as the commissioner shall prepare for that purpose. Upon applying […]
Section 27-13-25 Rating organizations – Provisions for insurers to become members or subscribers. Every rating organization shall make reasonable provision in its bylaws, rules, constitution, or otherwise to permit any insurer engaged in the kind of insurance for which rate-making is done by such rating organization to become a member or subscriber thereof upon application […]
Section 27-13-26 Rating organizations – Withdrawal, expulsion, and readmission of members or subscribers. Every rating organization shall notify the department within 10 days upon the withdrawal or expulsion therefrom of any member or subscriber. Should a rating organization expel or otherwise exclude a subscriber for the refusal or failure of such subscriber to pay such […]
Section 27-13-27 Rate-making and making rating systems. Every rating organization and every insurer which makes its own rates shall make rates that are not unreasonably high or inadequate for the safety and soundness of the insurer and which do not unfairly discriminate between risks in this state involving essentially the same hazards and shall, in […]
Section 27-13-28 Annual statistical reports of insurers. Every insurer shall file annually, on or before July 1, with the rating organization of which it is a member or subscriber, or with such other common agency representing a group of insurers as the department may approve, and with the department a statistical report showing a classification […]
Section 27-13-29 Filing of rating systems with department by insurers – Requirement. Beginning 180 days after January 1, 1972, every insurer shall, before using or applying any rate to any kind of insurance coming within the scope of this article, file with the department a copy of the rating system upon which such rate is […]
Section 27-13-30 Filing of rating systems with department by insurers – Examination and approval or disapproval by commissioner. If, after examination thereof, the commissioner shall find that such rating systems filed by, or on behalf of, an insurer provide for, result in or produce rates that are unreasonably high or excessive, or are not adequate […]
Section 27-13-31 Survey of risks rated upon schedule. Every rating organization, and every insurer which does its own rate-making, shall keep in its office a written survey of every risk rated upon schedule after inspection and shall, upon request, furnish a copy of such survey to the interested insured or his duly authorized representative. (Acts […]
Section 27-13-32 Hearings on applications to reduce rates. Every rating organization, and every insurer which does its own rate-making, shall provide reasonable means within this state, to be approved by the department, whereby any person, or persons, affected by rate made by it may be heard on an application to reduce such rate. If such […]
Section 27-13-33 Applications for uniform percentage increase or decrease of rates by insurers. Any insurer may apply to the commissioner for permission to effect a uniform percentage increase or decrease in the rates applied to all risks of a particular class in the state in a particular kind, or kinds, of insurance. Upon the filing […]
Section 27-13-34 Approval of rates and forms for insuring special types or classes of risks. Any insurer, individually or as a member of a pool, group, or association, engaged in the business of insuring special types or classes of risks in connection with a particular inspection or engineering service or with respect to which a […]
Section 27-13-35 Factors to be considered by commissioner in determining reasonableness, etc., of rates. In every case where, pursuant to the provisions of this article, the commissioner is authorized or required to determine whether rates are reasonable and adequate and not unfairly discriminatory, he shall consider: (1) The factors applied by insurers and rating organizations […]
Section 27-13-36 Examination of business, etc., of rating organizations and insurers making own rates. The commissioner may, whenever he deems it expedient, but at least once in every five years, make, or cause to be made, an examination of the business, affairs, and method of operation of every rating organization doing business in this state […]
Section 27-13-37 Alteration, supplementation, and amendment of rating systems. A rating organization, or any insurer making its own rates, may, with the approval of the commissioner, from time to time, alter, supplement, or amend its rating systems, or any part thereof, by filing with the department copies of such alterations, supplements, or amendments, together with […]
Section 27-13-38 Prohibition against premiums not in accord with approved rating systems. No insurer, or employee thereof, and no broker or agent shall knowingly charge, demand, or receive a premium for any policy of insurance except in accordance with the respective rating systems on file with, and approved by, the commissioner. No insurer, or employee […]
Section 27-13-39 False or misleading information concerning rates. No insurer, and no officer, agent, or employee thereof, shall give false or misleading information to any rating organization of which it is a member or subscriber or to the department which will in any manner affect the proper determination of reasonable, adequate, and nondiscriminatory rates. (Acts […]
