Or. Admin. Code § 836-010-0021

Current through Register Vol. 63, No. 10, October 1, 2024

Section 836-010-0021 - Required Actuarial Data

(1) An insurer shall file with the Director, on or before March 15 of each year, geographic average rates for small employer, portability and individual health benefit plans for a rating period. The supporting actuarial data must be submitted with the certificate of compliance. The geographic average rates must demonstrate compliance with the applicable provisions of:

(a) ORS 743.737, governing small employer premium rates;

(b) ORS 743.760, governing portability premiums rates; and

(c) ORS 743.767, governing individual premium rates.

(2) Except as provided in this section, supporting actuarial data shall accompany every filing of property or casualty insurance rates submitted on a file and use basis under ORS 737.205 and prior approved rates under ORS 737.207. The data shall be in sufficient detail to justify the rate level change and shall demonstrate compliance with ORS 737.310 governing the making of rates. This section does not apply to:

(a) Title insurance filings;

(b) Workers' compensation insurance filings;

(c) Surety filings;

(d) Home protection insurance filings;

(e) Filings for mortgage insurance, which is the insurance against financial loss by reason of nonpayment of sums agreed to be paid, as defined in ORS 731.178, rather than a life insurance product offering payment of a mortgage in the event of death or disability; and

(f) Purchasing group insurance filings.

(3) A rate filing for commercial liability insurance received by the Department that is subject to ORS 737.207 and does not comply with the requirement of section (2) of this rule is in noncompliance with the requirements and standards of ORS Chapter 737.

Or. Admin. Code § 836-010-0021

ID 9-1994, f. 7-1-94, cert. ef. 7-15-94; ID 20-1997(Temp), f. 12-29-97, cert. ef. 12-30-97 thru 6-11-98; ID 11-1998, f. & cert. ef. 8-10-98; Administrative correction, 6-25-99; ID 12-2000 f. 11-14-00, cert. ef. 1-1-01; ID 13-2000(Temp), f. & cert. ef. 12-21-00 thru 6-9-01; Administrative correction 11-20-01; ID 11-2002(Temp), f. & cert. ef. 4-18-02 thru 10-11-02; ID 20-2002, f. 10-11-02, cert. ef. 10-12-02

Stat. Auth.: ORS 731.244

Stats. Implemented: ORS 731.296, ORS 737.205, ORS 737.207, ORS 743.015 & ORS 743.018