§ 4694. Residual market mechanism status
§ 4694. Residual market mechanism status All insurers authorized to write insurance which is subject to this chapter may establish and participate in a plan providing for the equitable apportionment among them of insurance which may be afforded applicants who are in good faith entitled to, but who are unable to, procure such insurance through […]
§ 4695. Exemptions
§ 4695. Exemptions The Commissioner may, by rule, exempt any market from any or all of the provisions of this chapter, if and to the extent that the Commissioner finds their application unnecessary or impractical to achieve the purpose of this chapter. (Added 1983, No. 238 (Adj. Sess.), § 1.)
§ 4696. Mandatory market participation
§ 4696. Mandatory market participation If the Commissioner finds that there is no voluntary market in which buyers of any line of property and casualty insurance may obtain such insurance, the Commissioner may initiate proceedings to establish a joint underwriting association for that market under chapter 137 of this title. (Added 1985, No. 265 (Adj. […]
§ 4693. Agreements to adhere
§ 4693. Agreements to adhere (a) Except as necessary to comply with the requirements of section 4687 of this title, no insurer may agree with any other insurer or with an advisory or service organization to adhere to or use any rate or supplementary rate information. The fact that any insurer adheres to or uses […]
§ 4685. Rate standards
§ 4685. Rate standards (a) General. Rates shall not be excessive, inadequate, or unfairly discriminatory. (b) Excessiveness. (1) Competitive market. A rate in a competitive market is not excessive. (2) Noncompetitive market. Rates in a noncompetitive market are excessive if they are producing or are likely to produce unreasonably high profits for the insurance provided […]
§ 4686. Rating methods or criteria
§ 4686. Rating methods or criteria In determining whether rates comply with the excessiveness standard in a noncompetitive market under subdivision 4685(b)(2) of this title, the inadequacy standard under subsection 4685(c) of this title and the unfair discrimination standard under subsection 4685(d) of this title, the following criteria shall apply: (1) Basic factors in rates. […]
§ 4687. Workers’ compensation and employers’ liability insurance; uniform administration of classifications; reporting of rates and other information
§ 4687. Workers’ compensation and employers’ liability insurance; uniform administration of classifications; reporting of rates and other information (a) Every workers’ compensation and employers’ liability insurer shall adhere to the uniform classification system and uniform experience rating plan for such categories of insurance which are filed with the Commissioner by the advisory or service organization […]
§ 4688. Filing of rates and other rating information
§ 4688. Filing of rates and other rating information (a) Filings as to competitive markets. Except with respect to filings submitted pursuant to section 4687 of this title, in a competitive market every insurer shall file with the Commissioner all rates and supplementary rate information, and supporting information which are to be used in this […]
§ 4688a. Filing fees
§ 4688a. Filing fees Each filing submitted to the Commissioner pursuant to section 4687 or 4688 of this title shall be accompanied by payment to the Commissioner of a nonrefundable fee of $50.00. A minimum fee of $150.00 shall accompany each such filing if submitted by an advisory or service organization. (Added 1985, No. 236 […]
§ 4689. Approval or disapproval of rates
§ 4689. Approval or disapproval of rates (a) Timing of approval or disapproval. (1) A rate may be disapproved at any time subsequent to the effective date. (2) A rate subject to prefiling may also be disapproved before the effective date. (3) A rate for a residual market in which insurers are permitted or mandated […]