§ 58-40-40. Delegation of rate making and rate filing obligation. - North Carolina Statutes

§ 58‑40‑40. Delegation of rate making and rate filing obligation.

(a)        An insurer mayitself establish rates based on the factors in G.S. 58‑40‑25 or itmay use rates prepared by a statistical organization, with average expensefactors determined by the statistical organization or with such modificationfor its own expense and loss experience as the credibility of that experienceallows.

(b)        An insurer maydischarge its obligation under G.S. 58‑40‑30 by giving notice tothe Commissioner that it uses rates prepared by a designated statisticalorganization, with such information about modifications thereof as arenecessary to fully inform the Commissioner. The insurer's rates shall be thosefiled from time to time by the statistical organization, including anyamendments thereto as filed, subject, however, to the modifications filed bythe insurer. (1977,c. 828, s. 2; 2005‑210, s. 5.)