South Dakota § 58-18B-3.1 Base rate increase to be filed with director--Approval or disapproval.

South Dakota Statutes

§ 58-18B-3.1 — Base rate increase to be filed with director--Approval or disapproval.

South Dakota § 58-18B-3.1

Title 58INSURANCE

Ch. 58-18BREGULATION OF SMALL BUSINESSES' GROUP AND BLANKET HEALTH INSURANCE

This text of South Dakota § 58-18B-3.1 (Base rate increase to be filed with director--Approval or disapproval.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 58-18B-3.1 (2026).

Text

No small employer carrier may increase its small employer base rates unless the small employer carrier has filed the base rate increase with the director for review at least thirty days prior to the implementation of the rate increase. The base rates are deemed approved at the expiration of thirty days after the filing thereof unless disapproved by the director within thirty days after the date of filing. The filing of the base rate increase shall include documentation sufficient to actuarially justify the increase and a history of the earned premiums and incurred claims on the policy forms applicable to the rate increase. The base rates shall be reasonable in relation to the benefits. Commission Note:

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No small employer carrier may increase its small employer base rates unless the small employer carrier has filed the base rate increase with the director for review at least thirty days prior to the implementation of the rate increase. The base rates are deemed approved at the expiration of thirty days after the filing thereof unless disapproved by the director within thirty days after the date of filing. The filing of the base rate increase shall include documentation sufficient to actuarially justify the increase and a history of the earned premiums and incurred claims on the policy forms applicable to the rate increase. The base rates shall be reasonable in relation to the benefits. Commission Note: