Sec. 1.1. The purposes of this chapter are as follows: (1) To prohibit price fixing agreements and other anticompetitive behavior by companies. (2) To protect policyholders and the public against the adverse effects of excessive, inadequate, or unfairly discriminatory rates. (3) To promote price competition among companies so as to provide rates that are responsive to competitive market conditions. (4) To provide regulatory procedures for the maintenance of appropriate data reporting systems. (5) To improve availability, fairness, and reliability of insurance. (6) To authorize essential cooperative action among companies in the ratemaking process and to regulate such activity to prevent practices that tend to substantially lessen competition or create a monopoly. (7) To encourage the most efficient and economic marketing practices.
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