West Virginia Code § 33-20-13

Rate administration
Open in Lexace · Ask the AI about this section
(a) Recording the reporting of loss and expense experience. -- The commissioner shall
promulgate reasonable rules and statistical plans, reasonably adapted to each of the rating
systems on file with him which may be modified from time to time and which shall be used
thereafter by each insurer in the recording and reporting of its loss and countrywide
expense experience, in order that the experience of all insurers may be madee available at
least annually in such form and detail as may be necessary to aid him in determining
whether rating systems comply with the standards set forth in section trhree of this article.
Such rules and plans may also provide for the recording and reporting of loss and expense
experience items which are specially applicable to this state and are not susceptible of
determination by a prorating of countrywide experience. In promulgating such rules and
plans, the commissioner shall give due consideration to the rtating systems on file with him
and in order that such rules and plans may be as uniform as is practicable among the several
states, to the rules and to the form of the plans used for such rating systems in other states.
No insurer shall be required to record or report its loss experience on a classification basis
that is inconsistent with the rating system filed by it. The commissioner may designate one
or more rating organizations or other agencies to assist him in gathering such experience
and making compilations thereof, and such compilations shall be made available, subject to
reasonable rules promulgated by the commissioner, to insurers and rating organizations.
(b) Interchange of rating plan data. -- Reasonable rules and plans may be promulgated by
the commissioner for the interechange of data necessary for the application of rating plans.
(c) Consultation with otLher states. -- In order to further uniform administration of rate
regulatory laws, the commissioner and every insurer and rating organization may exchange
information and experience data with insurance supervisory officials, insurers and rating
organizations in other states and may consult with them with respect to rate making and the
application of rating systems.

‹ Prev All West Virginia sections Next ›


Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.