635.13 Annual certification of compliance. - Wisconsin Statutes

635.13

635.13 Annual certification of compliance.

635.13(1)

(1) Records. A small employer insurer shall maintain at its principal place of business complete and detailed records relating to its rating methods and practices and its renewal underwriting methods and practices, and shall make the records available to the commissioner upon request.

635.13(2)

(2) Certification. A small employer insurer shall file with the commissioner on or before May 1 annually an actuarial opinion by a member of the American academy of actuaries certifying all of the following:

635.13(2)(a)

(a) That the small employer insurer is in compliance with the rate provisions of s. 635.05.

635.13(2)(b)

(b) That the small employer insurer's rating methods are based on generally accepted and sound actuarial principles, policies and procedures.

635.13(2)(c)

(c) That the opinion is based on the actuary's examination of the small employer insurer's records and a review of the small employer insurer's actuarial assumptions and statistical methods used in setting rates and procedures used in implementing rating plans.

635.13 - ANNOT.

History: 1991 a. 39, 250; 1997 a. 27.

635.13 - ANNOT.

Cross Reference: See also s. Ins 8.56, Wis. adm. code.