Filing Requirements

Filing Requirements. A Flexible Rating System filing made pursuant to this Regulation shall be in compliance with all applicable provisions in Section 83-2-1 et seq., and shall include the rate, rating plans and rating systems used by the insurer. Supporting actuarial data shall accompany every filing and shall be in sufficient detail to justify the rate. At the point that aggregate rate changes by the insurer under the Flexible Rating System approved by MID total either an aggregate increase of 15%, or an aggregate decrease of 15%, a new rate filing shall be required pursuant to the provisions of Section 83-2-1 et seq. prior to making any further rate adjustments. There is no annual reset for the 15% flexible rating band.