§ 3801.304. Review procedure
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 40 P.S. InsuranceEffective: March 21, 2012
Effective: March 21, 2012
40 P.S. § 3801.304
Formerly cited as PA ST 40 P.S. § 3804
§ 3801.304. Review procedure
(a) General rule.--Filings under section 303(c) and (e)(1), (2) and (5)1 shall be reviewed as appropriate and necessary to carry out the provisions of this chapter. The following apply:
(1) Unless a filing that is subject to review under section 303(c) or (e)(1), (2) or (5) is earlier disapproved by the department, or the department, by written notice to the insurer, extends the period for approval or disapproval for an additional 45 days, the filings shall be deemed approved 45 days following receipt of the filing by the department.
(3) The department may hire the services of a competent actuarial firm as reasonably necessary under any section of this chapter to assist the department in the review of an insurer's rate filing or resubmitted rate filing under section 303(c) or (e)(1), (2) or (5). The reasonable and necessary costs for the services shall be paid by the insurer within 30 days of the insurer's receipt of a bill for the services.
(b) Disapproval.--Disapproval of a filing shall be based only on specific provisions of applicable law, regulation or statement of policy or if insufficient information is submitted to support the filing. Rates shall not be disapproved unless the rates are determined to be excessive, inadequate or unfairly discriminatory.
(d) Disapproval of resubmissions.--Disapproval of a filing resubmitted under subsection (c) shall be based only on specific provisions of applicable law, regulation or statement of policy or if insufficient information is submitted to support the filing. Rates shall not be disapproved unless the rates are determined to be excessive, inadequate or unfairly discriminatory. Disapproval may not be based on any grounds not specified in the initial disapproval issued by the department except to the extent that new information is presented in the resubmission.
Credits
1996, Dec. 18, P.L. 1066, No. 159, § 4, effective in 60 days. Renumbered as § 304 and amended by 2011, Dec. 22, P.L. 614, No. 134, § 5, effective in 90 days [March 21, 2012].
Footnotes
40 P.S. § 3801.303.
40 P.S. § 3801.304, PA ST 40 P.S. § 3801.304
Current through Act 13 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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