Section 405 – Filing of rates and other rating information.

• (1)
  • (a) All workers’ compensation rates, supplementary rate information, and supporting information shall be filed at least 30 days before the effective date of the rate or information.
  • (b) Notwithstanding Subsection (1)(a), on application by the filer, the commissioner may authorize an earlier effective date.

• (2) The loss and loss adjustment expense factors included in the rates filed under Subsection (1) shall be:
  • (a) the advisory loss costs filed by the designated rate service organization under Section 31A-19a-406; or
  • (b) a percent modification of the advisory loss costs filed by the designated rate service organization under Section 31A-19a-406.

• (3) A modification filed under Subsection (2)(b) shall be accompanied by adequate support as required by Part 2, General Rate Regulation.

Amended by Chapter 32, 2020 General Session