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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
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Last modified 7/05/2006