North Dakota § 26.1-25-13 Rate administration

North Dakota Statutes

§ 26.1-25-13 — Rate administration

North Dakota·Title 26.1 Insurance·Ch. 26.1-25 Fire, Property, and Casualty Insurance Rates

1.The commissioner shall adopt reasonable rules and statistical plans, reasonably adopted to each of the rating systems on file with the commissioner, which may be modified from time to time and which must 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 in such form and detail as may be necessary to aid the commissioner in determining whether rating systems comply with the standards set forth in section 26.1-25-03. The 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 experien

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1. The commissioner shall adopt reasonable rules and statistical plans, reasonably
adopted to each of the rating systems on file with the commissioner, which may be
modified from time to time and which must 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 in such form
and detail as may be necessary to aid the commissioner in determining whether rating
systems comply with the standards set forth in section 26.1-25-03. The 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 adopting the rules and plans, the
commissioner shall give due consideration to the rating systems on file with the
commissioner and, in order that the 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
the rating systems in other states. No insurer may 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 one or more advisory organizations or other
agencies to assist the commissioner in gathering such experience and making
compilations thereof, and the compilations must be made available, subject to
reasonable rules adopted by the commissioner, to insurers and advisory organizations.
2. Reasonable rules and plans may be adopted by the commissioner for the interchange
of data necessary for the application of rating plans.
3. In order to further uniform administration of rate regulatory laws, the commissioner and
every insurer and advisory organization may exchange information and experience
data with insurance supervisory officials, insurers, and advisory organizations in other
states and may consult with them with respect to ratemaking and the application of
rating systems.
4. The commissioner may adopt reasonable rules necessary to effect the purposes of
this chapter.