Purposes of article.

A. The purposes of this article are: (1) to promote the public welfare by regulating insurance rates to the end that they shall not be excessive, inadequate or unfairly discriminatory, and to protect policyholders and the public against the adverse effects of excessive, inadequate or unfairly discriminatory rates; (2) in general to permit and encourage, as an effective way to produce rates that conform to the foregoing, independent action by and reasonable price competition among insurers; (3) to provide formal regulatory controls for use where independent actions and price competition fail; (4) to authorize cooperative action among insurers in the rate-making process, and to regulate such cooperation in order to prevent practices tending to create monopoly or to lessen or destroy competition; (5) to encourage efficient and economic marketing practices; and (6) to regulate that part of the insurance business which is subject to this article, in a manner to preclude application of federal antitrust laws. B. The provisions of this article shall be liberally interpreted to effectuate the above purposes.