20-385. Filing of rates

A. Except as to marine, inland marine and transportation risks, which by general custom of the business are not written according to manual rates and rating plans, and except as provided in subsection F of this section or section 20-400.10, every authorized insurer and every rate service organization which has been designated by any insurer for the filing of rates pursuant to section 20-387, subsection B shall file with the director all rates and supplementary rate information and all changes and amendments to those rates made by it for use in this state within thirty days after they become effective. If a rate service organization files prospective loss costs on behalf of its member insurers with the director, each member insurer that adopts the rate service organization's prospective loss costs shall file, on a form approved by the director, the loss cost adjustment and loss cost modification factors applicable to the prospective loss costs filed by the rate service organization. Each member insurer that does not adopt or that delays adoption of the loss costs filed by the rate service organization shall notify the director of that decision, in a form acceptable to the director, within thirty days after the effective date of the prospective loss costs.

B. For any filing made pursuant to subsection A of this section, the director may require the filing of supporting data including:

1. The experience and judgment of the filer.

2. The experience and judgment of other insurers or rate service organizations.

3. The filer's interpretation of any statistical data relied upon.

4. A description of the methods used in making the rates.

5. A description of the methods used and statistics relied on by the insurer in developing its loss cost modification factor and providing its loss cost adjustment.

6. A description of the methods used and statistics relied on by the rate service organization in developing its prospective loss costs filing.

C. An insurer is not required to file with the director the insurer s final rate pages that combine the prospective loss costs separately filed by the rate service organization with the loss cost modification factor filed by the insurer.

D. For the purposes of this section, an insurer does not need to file with the director the insurer's final rate pages that combine the prospective loss costs with the loss cost adjustments.

E. On written consent of the insured stating the insured's reasons, the insurer may use a rate in excess of that provided by an otherwise applicable filing on a specific risk, if that rate is filed with the director pursuant to subsection A of this section.

F. For as long as the director deems proper, the director by order may exempt from the requirements of this section any insurance rate, rating class, rating rule or rating program or type the filing of which in the director's opinion is not desirable or necessary for the protection of the public.

G. If, after a hearing, the director finds that a particular market is noncompetitive, the director shall order that all rates or rate changes and all supplementary rate information in the noncompetitive market be filed with the director at least thirty days before the effective date. The order remains in effect until the director determines that a competitive market has been restored.