NAC686B.510. Insurance rating: Deviations and modifications.

     1. Any company which uses rate modifications or deviations of filings made by a licensed rate service organization shall file annually, during the month of July, statistics for the 3 previous calendar years, including:

     (a) Premiums written.

     (b) Premiums earned.

     (c) Losses incurred on a calendar year basis including loss adjustment.

     (d) Loss ratio based on paragraphs (b) and (c) of this subsection.

     (e) An indication of the break-even loss ratio.

     2. If the modification is based on expense considerations alone, it is necessary only to establish that the modification is proper in relation to the expense differential.

     3. Any deviation or modification on which statistical justification has not been received by the last day of August will be terminated on the first day of the following September.

     [Comm’r of Insurance, PC-7, eff. 9-23-72]