P.R. Laws tit. 26, § 1205
(1) Except as provided in § 1209 of this title, every rating organization and every authorized insurer shall file with the Commissioner, before using them in Puerto Rico, every rate manual, schedule of rates, classification of risk, rating plan, multiple-line program as defined by regulations, and every other rating rule made or used by it, as well as any other information concerning the application and computation of rates made and used by it, and every modification of any of the foregoing which it contemplates using. No such filing is required as to inland marine risks which, in accordance with general customs of the business, is not insured with rate manuals or rating plans. The rates on specific types of risks for inland marine risks specifically classified by a rating organization shall be filed with the Commissioner.
An insurer may fulfill its obligation to make such filings for any kind or type of insurance by becoming a member of, or subscribing to a rating organization which makes such filings for such kind or type of insurance, and by authorizing the Commissioner to accept them from the rating organization on such insurer’s behalf. Provided, That in the case of property insurance, the insurer shall become a member or subscriber of a rating organization authorized to present such insurance rates before the Commissioner.
(2) Every such filing shall state its proposed effective date and shall state or clearly indicate the character and extent of the coverage contemplated.
(3) Except as provided in subsection (1) of this section on property insurance, nothing contained in this chapter shall be construed as requiring any insurer to become a member or subscriber of a rating organization. Uniformity in rates or filings for registration is neither required nor prohibited.
(4) When a filing is not accompanied by the information upon which the insurer supports such filing, and the Commissioner does not have sufficient information to determine whether such filing meets the requirements of this chapter, he shall require the insurer to furnish such information. The information furnished in support of a filing may include:
(a) The experience or judgment of the insurer or rating organization making the filing,
(b) its interpretation of any statistical data it relies upon,
(c) the experience of other insurers or rating organizations,
(d) any other relevant factors.
(5) A filing and any supporting information shall be open to public inspection after the filing becomes effective.
History —Ins. Code § 12.050; May 10, 1976, No. 32, p. 84, § 12; Feb. 16, 1979, No. 15, p. 28, § 9; June 4, 1983, No. 89, p. 211, § 2.