§ 27-6-41 - Collection and compilation of experience statistics. - Rhode Island Statutes

SECTION 27-6-41

   § 27-6-41  Collection and compilation ofexperience statistics. – The commissioner shall promulgate reasonable rules and statistical plans,reasonably adapted to each of the rating systems on file with the commissioner,which may be modified and which shall be used by each insurer in the recordingand reporting of its loss and countrywide expense experience, in order that theexperience of all insurers may be made available at least annually in the formand detail necessary to aid him or her in determining whether rating systemscomply with the standards set forth in §§ 27-6-4 – 27-6-7. Thoserules and plans may also provide for the recording and reporting of expenseexperience items that are specially applicable to this state and are notsusceptible of determination by a prorating of countrywide expense experience.In promulgating those rules and plans, the commissioner shall give dueconsideration to the rating systems on file with the commissioner and, in orderthat those rules and plans may be as uniform as is practicable among theseveral states, to the rules and to the form of the plans used for the ratingsystems in other states. No insurer shall be required to record or report itsloss experience on a classification basis that is inconsistent with the ratingsystem filed by it. The commissioner may designate one or more ratingorganizations or other agencies to assist him or her in gathering thatexperience and making compilations of the experience, and those compilationsshall be made available, subject to reasonable rules promulgated by thecommissioner, to insurers and rating organizations.