Indiana § 27-1-22-16 Approval of rules and statistical plans; exchange of information and
experience data

Indiana Statutes

§ 27-1-22-16 — Approval of rules and statistical plans; exchange of information and experience data

Indiana·Title 27 INSURANCE·Art. 1 DEPARTMENT OF INSURANCE·Ch. 22 Regulation of Insurance Rates

a.The commissioner shall approve reasonable rules and statistical plans, reasonably adapted to each of the rating systems on file with him, which may be modified from time to time and which shall be used thereafter by each insurer in the recording and reporting of its loss and countrywide expense experience, in order that the experience of all insurers may be made available at least annually. Such rules and plans may also provide for the recording and reporting of expense experience items which are specially applicable to this state and are not susceptible of determination by a prorating of countrywide expense experience. In approving such rules and plans, the commissioner shall give due consideration to the rating systems on file with him and, in order that such rules and plans may be as

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a. The commissioner shall approve
reasonable rules and statistical plans, reasonably adapted to each of the
rating systems on file with him, which may be modified from time to
time and which shall be used thereafter by each insurer in the recording
and reporting of its loss and countrywide expense experience, in order
that the experience of all insurers may be made available at least
annually. Such rules and plans may also provide for the recording and
reporting of expense experience items which are specially applicable
to this state and are not susceptible of determination by a prorating of
countrywide expense experience. In approving such rules and plans,
the commissioner shall give due consideration to the rating systems on
file with him and, in order that such rules and plans may be as uniform
as is practicable among the several states, to the rules and to the form
of the plans used for such rating systems in other states. No insurer
shall be required to record or report its loss experience on a
classification basis that is inconsistent with the rating system filed by
it. The commissioner may designate rating organizations or other
agencies, or both, to assist him in gathering such experience and
making compilations thereof, and such compilations shall be made
available, subject to reasonable rules approved by the commissioner to
insurers and advisory and rating organizations.
b. In order to further uniform administration of the regulatory laws,
the commissioner and every insurer, rating organization, advisory
organization or statistical agency may exchange information and
experience data with insurance supervisory officials, insurers, rating
organizations, advisory organizations or statistical agencies in this and
other states and may consult with them with respect to rate making and
the application of rating systems.
c. The commissioner may make reasonable rules and regulations
necessary to effect the purposes of this section.
Formerly: Acts 1967, c.133, s.16.

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