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(a) For each policy of an eligible insured, an insurer shall maintain an underwriting file containing documentation of the application of the appropriate schedule rating plan.
(b) The documentation required in (a) of this section must include a worksheet prepared annually that
(1) describes each risk characteristic and the range of permissible credits or debits for each characteristic of the plan for which the insured is eligible; and
(A) the underwriting determination of a credit, debit, or zero change for each risk characteristic;
(B) the date the determination was made;
(C) the identity of the person making the determination; and
(D) the basis for the determination.
(c) The file documentation required in (a) of this section must support each underwriting determination and may include inspection reports, photographs, licensee observations and analysis, premises evaluations, formal safety plans of the insured, and narrative reports covering other aspects of the insured's hazards.
History: Eff. 7/24/98, Register 147
Authority: AS 21.06.090
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Last modified 7/05/2006