§ 27-7.1-10.1 - Procedural rules – Rate administration – Consultation with other states.
SECTION 27-7.1-10.1
§ 27-7.1-10.1 Procedural rules – Rateadministration – Consultation with other states. – (a) Subject to the applicable requirements of the Administrative ProceduresAct, chapter 35 of title 42, the director may adopt rules and regulations for:
(1) The administration of this chapter, including, but notlimited to, procedures governing submission of petitions for intervenor status,prefiling of testimony and exhibits, information requests, subpoenas,prehearing conferences, and the conduct of hearings;
(2) Use by insurers to record and report to the directortheir rates;
(3) Use by insurers in the recording and reporting of lossand expense experience, in order that the experience of all insurers may bemade available at least annually in the form and detail necessary to aid indetermining whether rating systems comply with the standards set forth in§ 27-7.1-4. The director may designate an advisory organization or otherentity to assist in gathering that experience and making compilations of it,and the compilations shall be public records;
(4) The interchange of data necessary for the application ofrating plans;
(b) In order to further the administration of this chapter,the director and every insurer and advisory organization may exchangeinformation and experience data with insurance supervisor officials, insurers,and advisory organizations in other states and may consult with them withrespect to the application of rating systems.
(c) Cooperation among advisory organizations or amongadvisory organizations and insurers in ratemaking or in other matters withinthe scope of this chapter is authorized, but the filings resulting from thatcooperation are subject to all the provisions of this chapter. The director mayreview these cooperative activities and practices and if, after a hearing, anyactivity or practice is found to violate the provisions of this chapter, awritten order may be issued specifying that the activity or practice violatesthe provisions of this chapter and requiring the discontinuance of the activity.