287.910. Rates, board to determine, how. - Missouri Statutes

Rates, board to determine, how.

287.910. The board shall have full power and authority toestablish rates to be charged by the company for insurance. Theboard shall contract for the services of or hire an independentactuary, a member in good standing with the American Academy ofActuaries, to develop and recommend actuarially sound rates.Rates shall be set at amounts sufficient, when invested, to carryall claims to maturity, meet the reasonable expenses ofconducting the business of the company and maintain a reasonablesurplus. The company shall conduct a workers' compensationprogram that shall be neither more nor less than self-supporting.

(L. 1993 S.B. 251 § 6)