NAC686B.715. Supporting data required with filing of rates; exempt filings.

     1. A filing of rates made pursuant to NRS 686B.070 must contain:

     (a) The supporting data listed in NRS 686B.100 and NAC 686B.500.

     (b) The following supporting data, which must be listed on the current “NV PC1” form which is available from the Division:

          (1) The name of the insurer.

          (2) By territory, the percentage of change in the base rates for:

               (I) Liability for bodily injury;

               (II) Liability for property damage;

               (III) Coverage for uninsured or underinsured motorists;

               (IV) Medical payments;

               (V) Comprehensive coverage; and

               (VI) Collision coverage.

          (3) If necessary, for each of those base rates, any changes in:

               (I) Territory;

               (II) Age, sex or marital status;

               (III) Coverage for one vehicle or more than one vehicle; and

               (IV) Use categories.

          (4) The largest theoretical rate increase resulting from a combination of factors in subparagraph (3), a listing of the contribution of each component and the compound result of all components.

          (5) If applicable, the adjustment of variable expenses to fixed expenses, commonly referred to as “expense flattening.”

          (6) If necessary, for each of the factors listed in subparagraph (3), a separate list of the factors for the balancing of increases and decreases of components to achieve a preselected overall change in rates, commonly referred to as “off-balance factors.”

          (7) For each of the coverages listed in subparagraph (2), the written premium at current rates for a recent 12-month period and the requested change in rates indicated by percentage and amount in dollars.

          (8) The total number of vehicles insured for bodily injury or property damage which are principally kept in this State and the percentage of those vehicles insured in each territory of the insurer. The Commissioner may, at the request of the insurer, allow the information required by this paragraph to be submitted separately to the Division and to be deemed confidential pursuant to subsection 5 of NRS 679B.190.

          (9) The total number of vehicles insured and principally kept in this State.

          (10) A statement by the insurer explaining why the filing meets the standards of NRS 686B.050 and 686B.060.

          (11) A statement by the insurer describing the actions it has taken to reduce costs for motor vehicle insurance covering private passenger vehicles, including programs:

               (I) To reduce the insurer’s own operational or other expenses.

               (II) To reduce fraudulent claims.

               (III) For the management of medical cases or other programs to contain medical costs.

               (IV) To reduce the costs of repairing vehicles.

               (V) For risk management, loss prevention, safety, and the training or education of drivers that are promoted by the insurer.

     (c) A cover letter or filing memorandum which summarizes the filing and includes:

          (1) A statement as to whether the policy allows the proration or other limitation of coverage, commonly referred to as the “stacking” of coverage for:

               (I) Medical payments; or

               (II) Uninsured and underinsured motorists.

          (2) A verification that the insurer has complied with:

               (I) Subsection 1 of NAC 690B.240;

               (II) Subsections 2 and 3 of NRS 687B.145; and

               (III) Division Bulletin No. 89-002.

     (d) A statement concerning chargeable accidents which must include:

          (1) A copy of the rules of the insurer concerning chargeable accidents; and

          (2) An explanation as to how the dollar threshold was established for a chargeable accident.

     (e) A list of all discounts required by title 57 of NRS which an insurer offers on premiums with a reference to the page number in the manual of the insurer which describes the discount.

     (f) A copy of the evidence of insurance provided to the insured pursuant to NRS 690B.023.

     (g) If the filing is made by an insurer providing coverage for at least 15,000 vehicles principally kept in this State, a list of the 10 largest losses for each of the most recent 5 years, with the status of the claim as either open or closed for:

          (1) Liability for bodily injury;

          (2) Coverage for uninsured and underinsured motorists; and

          (3) Coverage for medical payments.

     (h) A distribution of policy limits by the number of insureds for:

          (1) Liability for bodily injury;

          (2) Coverage for uninsured or underinsured motorists; and

          (3) Coverage for medical payments.

     (i) A distribution of the number of insured vehicles with:

          (1) Collision coverage;

          (2) Comprehensive coverage; and

          (3) Collision and comprehensive coverage.

     (j) The description of each territory used by the insurer.

     (k) The ratios which compare the base rates of the insurer for the lowest and highest rated territories for:

          (1) Liability for bodily injury;

          (2) Coverage for uninsured and underinsured motorists;

          (3) Coverage for medical payments;

          (4) Comprehensive coverage; and

          (5) Collision coverage.

     (l) Actuarial exhibits which demonstrate generally accepted actuarial principles, including:

          (1) Actuarial models used in the filing;

          (2) Indications of necessary rate level changes;

          (3) Credibility models;

          (4) Development of trend factors;

          (5) Development of relativity factors;

          (6) Loss development triangles;

          (7) Loss development factors;

          (8) Permissible loss ratios; and

          (9) Other actuarial data relevant to the filing.

     (m) An index of all exhibits and documents included in the filing.

     2. The provisions of this section do not apply to the filing of prospective loss costs by a licensed rate service organization. As used in this subsection, “prospective loss costs” has the meaning ascribed to it in NAC 686B.415.

     (Added to NAC by Comm’r of Insurance, eff. 1-27-92; A 5-15-96)