31A-19a-214 - Rating tiers.
31A-19a-214. Rating tiers.
(1) An insurer may file with the commissioner a rate filing that provides for a programwith more than one rate level in the same company or group of companies if:
(a) the program is based, to the extent feasible, upon mutually exclusive underwritingrules per tier;
(b) the underwriting rules are based on clear, objective criteria that would lead to alogical distinguishing of potential risk; and
(c) in filing to establish tiers, the insurer provides supporting information that evidences aclear distinction between the expected losses and expenses for each tier.
(2) A rating tier may not be continued if premium, loss, and expense data fail to show acontinued clear distinction between the tiers.
Enacted by Chapter 130, 1999 General Session