3 Alaska Admin. Code § 29.400

Current through December 21, 2024

Section 3 AAC 29.400 - Purpose of 3 AAC 29.400 - 3 AAC 29.469

The purpose of 3 AAC 29.400 - 3 AAC 29.469 is to establish standards for schedule rating to ensure that

(1) a credit or debit that modifies a premium under a schedule rating plan is based only on risk characteristics that can be reasonably expected to affect losses or loss adjustment expenses;

(2) the assignment of a credit or debit under a schedule rating plan results in a rate that is not excessive, inadequate, or unfairly discriminatory; and

(3) documentation in an insurer's underwriting file provides sufficient detail to establish that the assignment of a credit or debit under a schedule rating plan complies with 3 AAC 29.400 - 3 AAC 29.469.

3 AAC 29.400

Eff. 7/24/98, Register 147

Authority:AS 21.06.090

AS 21.39.030

AS 21.39.040