38.2-1919 - Collection of experience data; uniformity; compilations available to insurers and rate service organizations.
§ 38.2-1919. Collection of experience data; uniformity; compilationsavailable to insurers and rate service organizations.
A. The Commission may promulgate reasonable rules and statistical plans foreach of the rating systems on file with it, which may be modified from timeto time. These rules and plans shall be used by each insurer in the recordingand reporting of its loss and countrywide expense experience, so that theexperience of all insurers may be made available, at least annually, in theform and detail necessary to aid the Commission in determining whether ratingsystems comply with the standards set forth in § 38.2-1904. The rules andplans may also provide for the recording and reporting of expense experienceitems that are specially applicable to this Commonwealth and cannot bedetermined by prorating the countrywide experience.
B. In promulgating the rules and plans the Commission shall give dueconsideration (i) to the rating systems on file with it and (ii) to the rulesand to the form of the plans used for rating systems in other states so thatthe rules and plans may be as uniform as is practicable among the severalstates.
C. The Commission may designate one or more rate service organizations orother agencies to assist it in gathering the experience data and makingcompilations of it. These compilations shall be made available, subject toreasonable rules promulgated by the Commission, to insurers and rate serviceorganizations. Any rate service organization designated by the Commissionshall retain the experience data and compilations of the experience data inthe format and detail required by the applicable statistical plan and shallsubmit this information to the Commission upon request. Any rate serviceorganization designated by the Commission to gather and compile experiencedata for any classification of workers' compensation insurance that includescoal mining shall report such data annually to the Commission for the mostrecent five years for which such data is available.
D. Every rate service organization that has uniform (i) statistical plans,(ii) classification systems, (iii) experience rating plans, and (iv) manualrules filed and approved in accordance with the provisions of § 38.2-1913 Dshall gather and compile the experience data of its members for insurance asdefined in § 38.2-119. Each member insurer shall adhere to such uniformplans, systems, and rules of its designated rate service organization in therecording of its experience and the reporting of such information to the rateservice organization. Each rate service organization that gathers andcompiles information pursuant to this subsection shall be subject to theprovisions of subsection C as to the availability, retention, and filing ofthe experience data of its members.
(1973, c. 504, § 38.1-279.46; 1976, c. 329; 1986, c. 562; 1993, c. 985; 2003,c. 222.)