W. Va. Code R. § 114-75-2

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

Section 114-75-2 - Applicability

2.1. Insurers subject to biannual rate filing requirements. This rule applies to each insurer that provided five percent (5%) or more of the total insurance in West Virginia on either private passenger automobiles or on property used for personal or family needs.

a. "Insurance on private passenger automobiles" means a policy providing automobile liability insurance for a private passenger automobile.

b. "Property used for personal or family needs" means a policy providing property insurance which insures against loss of or damage to real property which is used predominantly for the residential purposes of the named insured, loss of or damage to personal property in which the named insured has an insurable interest where the personal property is used for personal, family or household purposes, and the personal property which is within a residential dwelling.

2.2. Notification by the commissioner. The commissioner shall, on or before August 1, 2005, and annually thereafter, notify in writing those insurers that he or she has determined are subject to biannual rate filing requirements under subsection 2.1 of this section of their obligation to make a rate filing in accordance with section 3 of this rule.

2.3. Method of determination. The commissioner shall determine which insurers are subject to the filing requirement by comparing every insurer's gross direct written premiums in West Virginia during the preceding calendar year for each of the two types of insurance described in subdivisions a and b, subsection 2.1 of this section with the total of all such premiums for that year reported by all companies for that type in West Virginia. Each insurer that is determined to have provided five percent (5%) or more of the total insurance for either type of insurance will be subject to the filing requirements of subsections 3.1 and 3.2 of this rule.

W. Va. Code R. § 114-75-2