R590-140-4. Filings of Advisory Prospective Loss Costs and Adjustment Factors

(1) A rate service organization may develop and make a reference filing containing advisory prospective loss costs. (2) Each reference filing shall: (a) contain the statistical data and supporting information for each calculation or assumption underlying the prospective loss costs; and (b) comply with the rate filing requirements under Section 31A-19a-203. (3) An insurer may file rates if the insurer: (a) becomes a participating insurer of a licensed rate service organization that makes an advisory prospective loss costs reference filing; (b) authorizes the commissioner to accept a reference filing on the insurer's behalf; and (c) files the information required in Section R590-140-5 with the commissioner. (4) If an insurer follows the procedure outlined in Subsection (3), the insurer's rates shall be: (a) the prospective loss costs filed by the rate service organization; and (b) any adjustment in effect for the insurer under Section R590-140-5 to the filed prospective loss costs. (5) An insurer's adjustment regarding a prospective loss costs filing becomes effective in accordance with the rate filing requirements under Section 31A-19a-203.