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Title 3 . Commerce, Community, and Economic Development
Chapter 31 . Miscellaneous
Section 230. Rate filing

3 AAC 31.230. Rate filing

In addition to the requirements under 3 AAC 31.200 - 3 AAC 31.220, a rate filing must include

(1) premium and loss experience, both nationwide and specifically for Alaska, shown separately by each year in the experience period used or with a full explanation if that information is not available; in the case of a filing for more than one company, the premium and loss experience of the different companies may be combined if an explanation is provided;

(2) expense information, both nationwide and specifically for Alaska, if available,

(A) for property and casualty insurers, the expense information must be broken out in detail at least as specific as the expense groups shown on Part II of the insurance expense exhibit of the annual statement required by AS 21.09.200 ; if loss adjustment expenses are included in the loss experience, that fact must be clearly explained; or

(B) for life and health insurers and hospital medical service corporations, the expense information must include first year and renewal commission percentages and any other expenses included in the pricing methodology;

(3) an explanation of how investment income was considered in the proposed rate;

(4) an explanation of the actuarial methodology used in developing an indicated rate change, including a description of any trending or credibility procedures used, as well as the role of judgment in the formulation of a final rate proposal;

(5) support for any deviation included in a filing, whether the deviation is between companies or from a rating organization filing;

(6) any other information that the company considers relevant, including reference to rating organization experience or published industry statistics, if appropriate; and

(7) any other information requested by the division in support of the filing.

History: Eff. 12/4/94, Register 132

Authority: AS 21.06.090

AS 21.09.200

AS 21.39.040

AS 21.39.060

AS 21.39.070

AS 21.39.130

AS 21.57.080

AS 21.66.370

AS 21.86.070

AS 21.87.190

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Last modified 7/05/2006