Section 27-13-60 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 27-13-61 Applicability of article. The provisions of this article shall apply to all lines of casualty insurance, including workmen’s compensation, employer’s liability, fidelity, surety, and guaranty bonds, and all other kinds of insurance which casualty and surety insurance companies are authorized to write in this state, except reinsurance, aviation insurance, and accident and health […]
Section 27-13-62 Rating organizations – License; application therefor; renewal thereof; fee for same. No rating organization shall do business in this state until 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 for […]
Section 27-13-63 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 to its rating […]
Section 27-13-64 Rating organizations – Admission, withdrawal, expulsion, or readmission of members or subscribers. Every rating organization shall notify the department within 10 days upon the admission, 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 […]
Section 27-13-65 Rate-making and making rating plans. 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 and shall, in rate-making and in making rating […]
Section 27-13-66 Annual statistical reports of insurers; exchange of information; rules and regulations. 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 […]
Section 27-13-67 Filing of rating plans 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 plan upon which such rate is […]
Section 27-13-68 Filing of rating plans with department by insurers – Examination and approval or disapproval by commissioner. If, after examination thereof, the commissioner shall find that such rating plans 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 27-13-69 Appeals from decisions of rating organizations. Any member of, or subscriber to, a rating organization may appeal to the commissioner from the decision of such rating organization in approving or rejecting any proposed change in, or addition to, the filings of such rating organization; and the commissioner shall, after a hearing held on […]
Section 27-13-70 Furnishing information as to rates. Every rating organization and every insurer which makes its own rates shall, after receiving written request therefor from the department, furnish to any person affected by a rate made by it, or to the authorized representative of such person, all pertinent information as to such rate. (Acts 1945, […]
Section 27-13-71 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 a rate made by it may be heard on a written application to reduce such rate. […]
Section 27-13-72 Application for uniform percentage increase or decrease in rates by insurers. (a) Any insurer may apply to the commissioner for permission to effect a uniform percentage increase or decrease in the rates applied to all kinds of a particular class in the state in a particular kind, or kinds, of insurance. Upon the […]
Section 27-13-73 Factors to be considered in determining reasonableness, etc., of rates. In every case where, pursuant to the provisions of the article, the commissioner is authorized or required to determine whether rates are reasonable and adequate and not unfairly discriminatory, he shall consider the factors and standards set forth in Section 27-13-65. (Acts 1945, […]
Section 27-13-74 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 each rating organization doing business in this state […]
Section 27-13-75 Alteration, supplementation, and amendment of rating plans. 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 plans, or any part thereof, by filing with the department copies of such alterations, supplements, or amendments, together with […]
Section 27-13-76 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 27-13-77 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 […]
Section 27-13-78 Suspension of license or certificate of authority. Any rating organization which violates any provision of this article shall be subject to suspension of its license, and any insurer making its own rates which violates any provisions of this article shall be subject to suspension of its certificate of authority to do business in […]
Section 27-13-79 Order revoking or suspending license. If the commissioner shall find, after due notice and hearing, that any rating organization, insurer, officer, agent, or representative thereof has willfully violated any of the provisions of this article, he may issue an order revoking or suspending the license of any such insurer, agent, broker, or representative […]
