NAC689B.097. Annual approval of actuarial memorandum and applicable rates; submission of additional information.

     1. The actuarial memorandum required by NAC 689B.095 and the applicable rates must be submitted to and approved by the Commissioner annually.

     2. After the submission of the initial actuarial memorandum, each subsequent actuarial memorandum submitted to the Commissioner by the insurer must, in addition to the items required by NAC 689B.095, include, without limitation:

     (a) All changes in rates from the inception of coverage;

     (b) Any changes in actuarial assumptions;

     (c) All loss ratios from the inception of coverage;

     (d) If a change in rates is being proposed, projections of the loss ratio both before and after the rate change; and

     (e) The number of members in the guaranteed association.

     (Added to NAC by Comm’r of Insurance by R111-07, eff. 1-30-2008)