18 Del. Admin. Code § 1303-9.0

Current through Register Vol. 28, No. 5, November 1, 2024

Section 1303-9.0 - Other Anticipated Loss Ratios

9.1 Anticipated loss ratios different from those indicated in Section 8.1 and 8.2 will require justification based on the special circumstances that may be applicable.

9.1.1 Examples of coverages that may receive special consideration are as follows:

9.1.1.1 accident only;

9.1.1.2 short term nonrenewable, e.g., airline trip; student accident;

9.1.1.3 specified peril, e.g., cancer, common carrier;

9.1.1.4 other special risks.

9.1.2 Examples of other factors that may receive special consideration are as follows:

9.1.2.1 marketing methods, giving due consideration to acquisition and administration costs and to premium mode;

9.1.2.2 extraordinary expenses;

9.1.2.3 high risk of claim fluctuation because of the low loss frequency or the catastrophic or experimental nature of the coverage;

9.1.2.4 product features such as long elimination periods, high deductibles and high maximum limits.

9.2 Companies are urged to review their experience periodically and to file rate revisions, as appropriate, in a timely manner to avoid the necessity of later filing of exceptionally large rate increases.

18 Del. Admin. Code § 1303-9.0