Section 121.05 - Rate Filings under M.G.L. c. 176K, Section 7(g)(1)Purpose. Rate Filings under M.G.L. c. 176K, § 7(g), must furnish sufficient evidence to substantiate the Filer's compliance with the requirements of M.G.L. c. 176K, including, but not limited to, compliance with the anticipated minimum loss ratio standards of M.G.L. c. 176K, § 7(e). The Rate Filing constitutes the Filer's direct case in support of its Rate Request.(2)Contents. The Rate Filing must consist of sequentially numbered pages and contain: (a) a title stating the nature of the Proceeding and the complete name and address of the Filer submitting the Filing;(b) the name, address and other contact information of counsel or other authorized representative, as prescribed in 211 CMR 121.03(6);(c) an executive summary describing, in narrative form, each element of the Rate Filing and the reasons for the proposed Rate Filing;(d) sworn written testimony in support of each element of the Rate Filing;(e) for every witness whose testimony is part of the Rate Filing, the following information: 1. name and business address,2. the specific part of the Rate Filing that is the subject matter of the witness's testimony, and3. the witness's qualifications to testify on that subject matter;(f) all information, including data, statistics, schedules and exhibits that the Filer intends to present for consideration at the Hearing and all information upon which the proposed Rate Filing are based;(g) all information required to be included by 211 CMR 71.12(10): Rate Filings;(h) an actuarial opinion and a legal opinion that the Filer is in compliance with the provisions of M.G.L. c. 176K; (i) the proposed effective date for the rate changes in the Rate Filing, which is at least 90 days after the filing date of the Rate Filing; and (j) other information as prescribed from time to time by the Commissioner or the Presiding Officer. (3)Amendments. A Filer may move in writing to amend or make additions or corrections to its Rate Filing, for good cause shown. The Presiding Officer, in his or her discretion, may deny or allow, in whole or in part, a Filer's motion to amend or make additions or corrections to its Rate Filing. Filing of an Amended Rate Filing, when permitted, shall be made in the same manner as a Rate Filing.(4)Copies. In addition to submitting its Rate Filing to the Division in the form and manner prescribed by the Commissioner for all rate and form filings, a Filer making a Rate Filing under M.G.L. c. 176K, § 7(g) also shall concurrently file five copies of the Rate Filing with the Docket Clerk, unless the Presiding Officer directs otherwise. The text and data included in the Rate Filing also must be filed electronically in a format determined by the Presiding Officer. Concurrently, the Filer shall serve two copies of its Rate Filing on the State Rating Bureau, and one copy on each Statutory Intervenor and any Intervenor permitted to appear in the Filer's last rate Hearing for that insurance product, unless such person has advised the Filer that a copy is not wanted. The Filer shall serve a copy of its Rate Filing on a person permitted to intervene within two business days after issuance of an order allowing the person to intervene. By agreement of the Parties concerned, copies may be served on a Party electronically. The Filer of an Amended Rate Filing shall comply with 211 CMR 121.05(4). 211 CMR 121.15 addresses Revised Rate Filings.
Amended by Mass Register Issue 1278, eff. 1/16/2015.