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23-67-505. Filing of rating information.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-67-505. Filing of rating information.
(a) Every malpractice insurer shall file with the Insurance Commissioner every manual of classifications, rules, and rates, every rating plan, and every modification of any manual classification, rule, or rate that it proposes to use in this state.
(b) The expense provisions included in the rates to be used by a malpractice insurer shall reflect its:
(1) Operating methods; and
(2) Actual and anticipated expense experience.
(c)(1) The rates to be used by a malpractice insurer shall contain provisions for contingencies and an allowance permitting a reasonable rate of return.
(2) In determining a reasonable rate of return, consideration shall be given to all investment income reasonably attributable to the insurer's malpractice insurance line of business.
(d) Every filing shall:
(1) State its proposed effective date;
(2) Indicate the character and extent of the coverage contemplated; and
(3) Contain supporting information which may include:
(A) The experience or judgment of the malpractice insurer making the filing;
(B) Its interpretation of any statistical data relied upon;
(C) The experience of other malpractice insurers; and
(D) Any other factors that the malpractice insurer deems relevant.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-67-505
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:23-67-505
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 6fdcc2afa3d6f255eb2714d844c8aa4aa60493cd6ee3f62aa7a43360dbfe86db
Source location: content.xml paragraph 39443
Stored source content
23-67-505. Filing of rating information.
(a) Every malpractice insurer shall file with the Insurance Commissioner every manual of classifications, rules, and rates, every rating plan, and every modification of any manual classification, rule, or rate that it proposes to use in this state.
(b) The expense provisions included in the rates to be used by a malpractice insurer shall reflect its:
(1) Operating methods; and
(2) Actual and anticipated expense experience.
(c)(1) The rates to be used by a malpractice insurer shall contain provisions for contingencies and an allowance permitting a reasonable rate of return.
(2) In determining a reasonable rate of return, consideration shall be given to all investment income reasonably attributable to the insurer's malpractice insurance line of business.
(d) Every filing shall:
(1) State its proposed effective date;
(2) Indicate the character and extent of the coverage contemplated; and
(3) Contain supporting information which may include:
(A) The experience or judgment of the malpractice insurer making the filing;
(B) Its interpretation of any statistical data relied upon;
(C) The experience of other malpractice insurers; and
(D) Any other factors that the malpractice insurer deems relevant.
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