23 CAR § 11-106
23 CAR § 11-106. Rates
Length: 62 wordsOfficial source
(a) When rates are differentiated on the basis of sex, the insurer must justify, in writing to the satisfaction of the Insurance Commissioner, the rate differential.
(b) All rates:
(1) Shall be based on:
(A) Sound actuarial principles; and
(B) A valid classification system; and
(2) Must:
(A) Be related to actual loss statistics; and
(B) Use proven loss statistics, where possible.