Section 3.31.230. Property, casualty, surety, marine, and mortgage guaranty rate filings.

In addition to the requirements under 3 AAC 31.200 - 3 AAC 31.217 and 3 AAC 31.225, a property, casualty, surety, marine, or mortgage guaranty rate filing must include  
		(1) premium and loss experience, both nationwide and specifically for Alaska, shown separately by each year in the experience period used or with a full explanation if that information is not available; in the case of a filing for more than one company, the premium and loss experience of the different companies may be combined if an explanation is provided;  
		(2) expense information, both nationwide and specifically for this state, if available; expense information must be broken out in detail at least as specific as the expense groups shown on Part III of the insurance expense exhibit of the annual statement required by AS 21.09.200; if loss adjustment expenses are included in the loss experience, that fact must be clearly explained;  
		(3) support showing how investment income was incorporated into the proposed rate;  
		(4) an explanation of the actuarial methodology used in developing an indicated rate change, including a description of any trending or credibility procedures used, as well as the role of judgment in the formulation of a final rate proposal;  
		(5) support for any deviation included in a filing, whether the deviation is between companies or from a rating organization filing;  
		(6) any other information that the company considers relevant, including reference to rating organization experience or published industry statistics, if appropriate; and  
		(7) any other information requested by the division in support of the filing.  

Authorities

21.06.090;21.09.200;21.39.040;21.39.041;21.39.060;21.39.070;21.39.130;21.39.210;21.39.220;21.66.370

Notes

Reference

3 AAC 31.240

Authority

AS 21.06.090 AS 21.09.200 AS 21.39.040 AS 21.39.041 AS 21.39.060 AS 21.39.070 AS 21.39.130 AS 21.39.210 AS 21.39.220 AS 21.66.370

History

Eff. 12/4/94, Register 132; am 11/12/2006, Register 180; am 8/20/2016, Register 219