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§ 1233. Rate administration; authority and duties of commissioner; rules and regulations

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 40 P.S. Insurance

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 40 P.S. Insurance (Refs & Annos)
Chapter 5. Insurance Rates
Fire and Marine Insurance (Refs & Annos)
40 P.S. § 1233
§ 1233. Rate administration; authority and duties of commissioner; rules and regulations
(a) Recording and reporting of loss and expense experience. The commissioner shall promulgate reasonable rules and statistical plans, reasonably adapted to each of the rating systems on file with him, which may be modified from time to time and which shall be used thereafter by each insurer in the recording and reporting of its loss and countrywide expense experience, in order that the experience of all insurers may be made available at least annually in such form and detail as may be necessary to aid him in determining whether rating systems comply with the standards set forth in this act. Such rules and plans may also provide for the recording and reporting of expense experience items which are specially applicable to this Commonwealth and are not susceptible of determination by a prorating of countrywide expense experience. In promulgating such rules and plans, the commissioner shall give due consideration to the rating systems on file with him and, in order that such rules and plans may be as uniform as is practicable among the several states, to the rules and to the form of the plans used for such rating systems in other states. Such rules and plans shall not place an unreasonable burden of expense on any insurer. No insurer shall be required to record or report its loss experience on a classification basis that is inconsistent with the rating system filed by it, nor shall any insurer be required to report its experience to any agency of which it is not a member or subscriber. The commissioner may designate one or more rating organizations or other agencies to assist him in gathering such experience and making compilations thereof, and such compilations shall be made available, subject to reasonable rules promulgated by the commissioner, to insurers and rating organizations.
(b) Interchange of rating plan data. Reasonable rules and plans may be promulgated by the commissioner for the interchange of data necessary for the application of rating plans.
(c) Consultation with other states. In order to further uniform administration of rate regulatory laws, the commissioner and every insurer and rating organization may exchange information and experience data with insurance supervisory officials, insurers and rating organizations in other states and may consult with them with respect to rate making and the application of rating systems.
(d) Authority and duties of commissioner; rules and regulations. In addition to any powers hereinbefore expressly enumerated in this act, the commissioner shall have full power and authority, and it shall be his duty, to enforce and carry out by regulations, orders, or otherwise, all and singular the provisions of this act, and the full intent thereof. The commissioner may make such reasonable rules and regulations not inconsistent with this act, or any amendment thereof, as may be necessary or proper in the exercise of his powers or for the performance of his duties under this act.

Credits

1947, June 11, P.L. 551, § 13. Reenacted and amended 1961, Aug. 23, P.L. 1053, § 1.
40 P.S. § 1233, PA ST 40 P.S. § 1233
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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