§ 2507 — Disapproval of filing

If within 30 days after a specific inland marine rate on a risk specially rated by a rating organization subject to § 2504(b) of this title, or a special surety or guaranty bond subject to § 2506(b) of this title, has become effective, or if upon review of any other filing, the Commissioner finds that such filing does not meet the requirements of this chapter, the Commissioner shall issue an order disapproving the filing and state that a hearing will be granted within 20 days after request in writing by the insurer or rating organization which made such filing. The Commissioner’s order shall specify in what respects the Commissioner finds that such filing fails to meet the requirements of this chapter and, for filings previously in effect, state when, within a reasonable period thereafter, such filing shall be deemed no longer effective. If a rate filing has not gone into effect and is scheduled for a formal administrative hearing under this section, the filing may not become effective until a final order is issued. A final order shall be issued within 60 days after the entire record of the hearing, including any hearing officer’s recommendations and any comments or exceptions thereto, has been presented to the Commissioner for consideration. Copies of the order shall be sent to every such insurer and rating organization. The order shall not affect any contract or policy made or issued prior to the expiration of the period set forth in the order.

Legislative History

18 Del. C. 1953, § 2507; 56 Del. Laws, c. 380, § 1 ; 58 Del. Laws, c. 238, § 1 ; 70 Del. Laws, c. 186, § 1 ; 84 Del. Laws, c. 42, § 1 ; 84 Del. Laws, c. 186, § 2