La. Admin. Code tit. 37 § XIII-15909
Current through Register Vol. 50, No. 11, November 20, 2024
Section XIII-15909 - Procedure for Insurer to Use in a Consent to Rate ApplicationA. An insurer seeking the approval of the commissioner to charge an insured a rate in excess of the manual rate for property and casualty insurance coverage shall file a consent to rate application with the commissioner within 45 calendar days of the effective date of the policy.B. The consent to rate application made by the insurer shall comply with the requirements of §15913 of Regulation 111.C. The commissioner shall have 45 calendar days to review the consent to rate application, pursuant to R.S. 22:1451.C(1). The 45 day period for review shall commence once the commissioner has received the insurers complete consent to rate application.D. Any consent to rate application not received by the commissioner within 45 calendar days of the effective date of the policy shall be disapproved by the commissioner.E. If a consent to rate application is disapproved by the commissioner, then the insurer shall follow the requirements set forth in §15911 of Regulation 111.F. If a consent to rate application filed timely is approved by the commissioner, the insurer may proceed to implement the excess rate in accordance with the approved consent to rate application.G. If the commissioner has not acted on a timely filed consent to rate application and the commissioner has not advised the insurer in writing of any objections with regard to the consent to rate application or that such application is incomplete within 45 days of the commissioners receipt of same, the insurer may proceed as outlined in R.S. 22:1451.C(2).H. Renewal of any policy at an excess rate shall require that the insurer submit a new consent to rate application.La. Admin. Code tit. 37, § XIII-15909
Promulgated by the Department of Insurance, Office of the Commissioner, LR 442212 (12/1/2018).AUTHORITY NOTE: Promulgated in accordance with R.S. 22:1464, R.S. 22:1473, and the Administrative Procedure Act, R.S. 49:950 et seq.