W. Va. Code R. § 114-31-3

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

Section 114-31-3 - Guaranteed Loss Ratio Filings

3.1. The initial filing of a loss ratio guarantee must include the policy form, schedule of rates and an actuarial memorandum which shall include information prescribed in the National Association of Insurance Commissioners' rate filing guidelines, durational and lifetime target loss ratios, and a projection of the actual loss ratio which shall include interest and lapse rates.

3.2. All rate increase filings shall include information prescribed in the National Association of Insurance Commissioners' rate filing guidelines, as well as the following:

a. An outline of coverage;

b. Any change in rate relationships;

c. The cumulative, to-date loss ratios; and

d. The projected lifetime loss ratios.

W. Va. Code R. § 114-31-3