W. Va. Code R. § 114-17-7

Current through Register Vol. XLI, No. 50, December 13, 2024

Section 114-17-7 - Loss Ratio Standards

7.1. Aggregate benefits. -- Medicare Supplement or Limited Benefit Medicare Supplement policies or contracts shall be expected to return to policyholders in the form of aggregate benefits under the policy, as estimated for the entire period for which rates are computed to provide coverage, on the basis of incurred claims experience and earned premiums for such period and in accordance with accepted actuarial principles and practices:

(a) In the case of individual policies or contracts, at least sixty percent (60%) of the aggregate amount of premiums collected; and

(b) In the case of group policies, contracts or certificates, at least seventy-five percent (75%) of the aggregate amount of premiums collected.

7.2. Mail or mass media advertising. -- For purposes of this section, Medicare Supplement or Limited Benefit Medicare Supplement group policies or contracts issued as a result of solicitations of individuals through the mail or mass media advertising, including both print and broadcast advertising, shall be deemed to be individual policies.

W. Va. Code R. § 114-17-7