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Title 3 . Commerce, Community, and Economic Development
Chapter 29 . Miscellaneous
Section 420. Implementation requirements

3 AAC 29.420. Implementation requirements

If an insurer uses a schedule rating plan, the insurer

(1) must uniformly apply the plan to all eligible insureds or applicants;

(2) must apply the plan at each policy renewal;

(3) must assign credits or debits only for risk characteristics described in the plan; however, for each insured or applicant, the insurer may use underwriting judgment to determine an appropriate amount of any credit or debit within the filed range; and

(4) may not apply the plan in such a way as to duplicate other rating or rate development factors, including those in

(A) a manual rate;

(B) the classification of insureds within a rating system; or

(C) an experience rating plan.

History: Eff. 7/24/98, Register 147

Authority: AS 21.06.090

AS 21.39.030

AS 21.39.040


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Last modified 7/05/2006