Section 0780-01-92-.05 - PREVIOUSLY APPROVED FORMSFilings of rate revisions for a previously approved policy, rider or endorsement form shall also include the following:
(1) A statement of the scope and reason for the revision, and an estimate of the expected average effect on premiums, including the anticipated loss ratio for the form;(2) A statement as to whether the filing applies only to new business, only to in-force business, or both, and the reasons;(3) A history of the experience under existing rates, including at least the data indicated in Rule 0780-1- 92-.06. The history may also include, if available and appropriate, the ratios of actual claims to the claims expected according to the assumptions underlying the existing rates. Additional data might include: substitution of actual claim run-offs for claim reserves and liabilities; determination of loss ratios with the increase in policy reserves (other than unearned premium reserves) added to benefits rather than subtracted from premiums; accumulations of experience funds; substitution of net level policy reserves for preliminary term policy reserves; adjustment of premiums to an annual mode basis; or other adjustments or schedules suited to the form and to the records of the company. All additional data must be reconciled, as appropriate, to the required data; and(4) The date and magnitude of each previous rate change, if any.Tenn. Comp. R. & Regs. 0780-01-92-.05
Emergency rule filed August 29, 2011; effective through February 25, 2012. Original rule filed November 22, 2011; effective February 20, 2012.Authority: T.C.A. §§ 4-5-206, 56-1-212, 56-2-201, 56-2-301, 56-26-102, 56-26-103, 56-26-114, 56-26202,56-27-112, 56-28-106, 56-29-117, 56-32-107 and Public Law 111-148 as amended by Public Law 111-152 (2010)).