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Title 3 . Commerce, Community, and Economic Development
Chapter 29 . Miscellaneous
Section 220. Insurer filing responsibilities

3 AAC 29.220. Insurer filing responsibilities

(a) An insurer may

(1) develop and submit its own filing of rates supported by statistical data, interpretation of the statistical data, relevant loss and expense experience or judgment, and other supporting information as required by the director; or

(2) submit a loss cost adjustment filing that adopts the prospective loss costs filing made by the rating organization of which the insurer is a participating insurer, and applies the insurer's own loss cost adjustments; except as provided in 3 AAC 29.240(c) , an insurer must adopt the rating organization filing of prospective loss costs that will be in effect on the effective date of the insurer's loss cost adjustment filing.

(b) Repealed 12/24/93.

(c) When a rating organization makes an initial filing of prospective loss costs for a kind of insurance, a participating insurer of that rating organization may continue to use all of the rates and deviations already in effect until those rates and deviations are disapproved, the insurer submits its own filing of rates, or the insurer files a loss cost adjustment filing.

(d) A participating insurer of a rating organization for a kind of insurance may

(1) develop and submit a filing of supplementary rating information; or

(2) authorize the director to accept a filing of supplementary rating information made on its behalf by the licensed rating organization.

History: Eff. 8/7/92, Register 123; am 12/24/93, Register 128; am 1/17/98, Register 145

Authority: AS 21.06.090

AS 21.39.040

AS 21.39.070

AS 21.39.130

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Last modified 7/05/2006