3 AAC 31.230. Rate filing

In addition to the requirements under 3 AAC 31.200 - 3 AAC 31.220, a rate filing must include

(1) premium and loss experience, both nationwide and specifically for Alaska, shown separately by each year in the experience period used or with a full explanation if that information is not available; in the case of a filing for more than one company, the premium and loss experience of the different companies may be combined if an explanation is provided;

(2) expense information, both nationwide and specifically for Alaska, if available,

(A) for property and casualty insurers, the expense information must be broken out in detail at least as specific as the expense groups shown on Part II of the insurance expense exhibit of the annual statement required by AS 21.09.200 ; if loss adjustment expenses are included in the loss experience, that fact must be clearly explained; or

(B) for life and health insurers and hospital medical service corporations, the expense information must include first year and renewal commission percentages and any other expenses included in the pricing methodology;

(3) an explanation of how investment income was considered in the proposed rate;

(4) an explanation of the actuarial methodology used in developing an indicated rate change, including a description of any trending or credibility procedures used, as well as the role of judgment in the formulation of a final rate proposal;

(5) support for any deviation included in a filing, whether the deviation is between companies or from a rating organization filing;

(6) any other information that the company considers relevant, including reference to rating organization experience or published industry statistics, if appropriate; and

(7) any other information requested by the division in support of the filing.

History: Eff. 12/4/94, Register 132

Authority: AS 21.06.090

The Alaska Administrative Code was automatically converted to HTML from a plain text format. Every effort has been made to ensure its accuracy, but neither Touch N' Go Systems nor the Law Offices of James B. Gottstein can be held responsible for any possible errors. This version of the Alaska Administrative Code is current through June, 2006.

If it is critical that the precise terms of the Alaska Administrative Code be known, it is recommended that more formal sources be consulted. Recent editions of the Alaska Administrative Journal may be obtained from the Alaska Lieutenant Governor's Office on the world wide web. If any errors are found, please e-mail Touch N' Go systems at E-mail. We hope you find this information useful. Copyright 2006. Touch N' Go Systems, Inc. All Rights Reserved.