§ 27-9-26 - Adherence to rating organization filings – Deviation filings. - Rhode Island Statutes

SECTION 27-9-26

   § 27-9-26  Adherence to rating organizationfilings – Deviation filings. – Every member of or subscriber to a rating organization shall adhere to thefilings made on its behalf by the organization, except that any affectedinsurer may file with the commissioner a uniform percentage decrease orincrease to be applied to the premiums produced by the rating system filed fora kind of insurance or for a class of insurance which is found by thecommissioner to be a proper rating unit for the application of the uniformpercentage decrease or increase or for a subdivision of a kind of insurance:(1) comprised of a group of manual classifications which is treated as aseparate unit for rate making purposes, or (2) for which separate expenseprovisions are included in the filings of the rating organization. Thedeviation filing shall specify the basis for the modification and shall beaccompanied by the data upon which the applicant relies. A copy of the filingand data shall be sent simultaneously to the rating organization. Any deviationdeveloping a lower rate than filed by the rating organization may be utilizedimmediately by the member or subscriber developing the decrease. Any eventualreturn to the rate level as authorized for the rating organization, from whicha lower deviation has been made, shall also be accomplished by submittingsimultaneously to the insurance commissioner and the rating organization a copyof the filing and data.