Section 8. The commissioner may as often as he deems it expedient and in such manner as he deems it expedient examine any insurer or rating organization to ascertain whether its rating and underwriting practices are in accordance with law. Filed reports on examinations shall be available for public inspection.

If the commissioner determines after a hearing that any classification, rule or rates, rating plan or modification of any of the foregoing used by an insurer does not comply with this chapter or is violative of public policy he shall order that such classification or rule or rate or rating plan or any modification thereof be disapproved, and with respect to any such rate, such order may include a provision for premium adjustment.

Pending a hearing, the commissioner may order the suspension, prospectively, of a rate used by an insurer and reimpose the last previous rate in effect, in which event he shall, unless the requirement is waived by the insurer, hold a hearing within fifteen days after such order. Within fifteen days after the close of the hearing the commissioner shall make his determination as to whether the rate should be disapproved.

At any such hearing, the insurer shall have the burden of justifying the rate in question. All such determinations of the commissioner shall be on the basis of findings of fact and conclusions of law. If the commissioner disapproves a rate, the disapproval shall take effect not less than fifteen days after his order and the previous rate in effect for the insurer shall be thereupon reimposed for a period of six months unless, prior thereto, the commissioner shall approve a different rate.