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§ 710-6. Rate filings

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 2. Insurance Companies (Refs & Annos)
Article V-a. Property and Casualty Filing Reform (Refs & Annos)
40 P.S. § 710-6
§ 710-6. Rate filings
Currentness
(a) Every insurer making a filing with the commissioner under section 505-A shall file every manual of classifications, rules and rates, every rating plan and every modification of a manual of classifications, rules and rates and a rating plan which it proposes to use in this Commonwealth.
(b) If the commissioner determines that a filing is not accompanied by supporting information and that sufficient information is not available to determine whether the filing meets the requirements of this article, the commissioner may require the insurer to furnish the additional supporting information. Filings may be supported by any or all of the following:
(1) The experience or judgment of the insurer.
(2) The experience of other insurers or rating organizations.
(3) Any other factors which the insurer deems relevant.
(c) An insurer may satisfy its rate filing requirements by becoming a member of or subscriber to a licensed rating organization which makes rate filings and by authorizing the commissioner to accept filings from the rating organization on the insurer's behalf. Nothing contained in this article shall be construed to require any insurer to become a member of or a subscriber to a licensed rating organization.

Credits

1921, May 17, P.L. 682, No. 284, art. V-A, § 506-A, added 1998, Dec. 21, P.L. 1108, No. 150, § 3, effective in 60 days.
40 P.S. § 710-6, PA ST 40 P.S. § 710-6
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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