Ala. Admin. Code r. 482-1-093-.10

Current through Register Vol. 43, No. 02, November 27, 2024

Section 482-1-093-.10 - Rates

(a) Credit Property Insurance, other than Involuntary Unemployment Insurance. It shall be presumed in any review of rates filed with the commissioner that the benefits are reasonable in relation to the premium charged if the premium rates do not exceed those contained in Exhibit A of this chapter. Any insurer filing rates in excess of those contained in Exhibit A must demonstrate that its rates produce or may reasonably be expected to produce a loss ratio of at least fifty percent (50%).

(b) Involuntary Unemployment Insurance. It shall be presumed in any review of rates filed with the commissioner that the benefits are reasonable in relation to the premium charged if the premium rates do not exceed those contained in Exhibit B of this chapter. Any insurer filing rates in excess of those contained in Exhibit B must demonstrate that its rates produce or may reasonably be expected to produce a loss ratio of at least fifty percent (50%).

Author: Vincent R. Ledlow, Associate Counsel

Ala. Admin. Code r. 482-1-093-.10

New Rule: June 12, 1992; effective June 22, 1992; Amended: October 15, 1996; effective April 1, 1997. Amended: July 23, 2002; effective August 2, 2002. Filed with LRS July 23, 2002. Rule is not subject to the Alabama Administrative Procedure Act.

Statutory Authority:Code of Ala. 1975, § 27-2-17.