W. Va. Code R. § 114-61-7

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

Section 114-61-7 - Experience Reports and Triennial Filing Requirements

7.1. An insurer doing insurance business in this state shall annually file with the Commissioner and the National Association of Insurance Commissioners (NAIC) a report of credit personal property insurance written on a calendar year basis. The report shall utilize the Credit Insurance Supplement-Annual Statement Blank approved by the NAIC, and shall contain data separately for each state, rather than an allocation of the company's countrywide experience. The filing shall be made in accordance with and no later than the due date in the Instructions to the Annual Statement.

7.2. Rates that have been filed and approved pursuant to section 5 of this rule are effective for a period not to exceed three (3) years. An insurer shall file a new rate or support the previously approved rate before the three-year period expires. An insurer may file for a new rate before the end of the three-year period.