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§ 11-312. Supporting data filing requirements

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 11. Insurance Rating Law
Subtitle 3. Competitive Rating (Refs & Annos)
Part II. Rate Making--in General
MD Code, Insurance, § 11-312
§ 11-312. Supporting data filing requirements
Currentness
In general
(a)(1) The Commissioner may require the filing of supporting data as to any or all kinds or lines of insurance or subdivisions of kinds or lines of insurance or classes of risks or combinations of classes of risks as the Commissioner considers necessary for the proper functioning of the rate monitoring and regulating process.
(2) The supporting data shall include:
(i) the experience and judgment of the filer and, to the extent the filer wishes or the Commissioner requires, the experience and judgment of other insurers or rating organizations;
(ii) the filer's interpretation of any statistical data relied on;
(iii) a description of the actuarial and statistical methods used in setting the rates; and
(iv) any other relevant matters required by the Commissioner.
Filings not accompanied by information
(b) Whenever a filing is not accompanied by the information as required by the Commissioner under § 11-310(a) of this subtitle, the Commissioner may so inform the insurer and the filing will be deemed to be made when the information is provided.

Credits

Added by Acts 1997, c. 35, § 2, eff. Oct. 1, 1997.
Formerly Art. 48A, § 244K.
MD Code, Insurance, § 11-312, MD INSURANCE § 11-312
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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