South Dakota Statutes
§ 58-24-6 — Making of rates--Matters considered.
South Dakota·Title 58 INSURANCE·Ch. 58-23A FIRE, MARINE, CASUALTY, AND SURETY INSURANCE RATES AND RATING ORGANIZATIONS
To determine whether rates are excessive, inadequate, or unfairly discriminatory, the director may consider:
(1)Past and prospective loss experience within this state;
(2)Conflagration and catastrophic hazards;
(3)Reasonable margin for the underwriting profit and contingencies;
(4)Dividends, savings, or unabsorbed premium deposits allowed or returned by insurers to their policyholders, members, or subscribers;
(5)Past and prospective expenses specially applicable to this state; and (6) All other relevant factors within and outside this state. The loss experience shall be on at least the most recent five - year period for which such experience is available. If South Dakota data are not adequate because of insufficient sample size, the director shall consider the loss
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Legislative History
SL 1966, ch 111, ch 15, § 3 (1) (b); SL 1990, ch 400, § 1.
Nearby Sections
15
§ 58-1-1
Citation of title.§ 58-1-11
General saving clause.§ 58-1-13
Severability of provisions.§ 58-1-14
Notice of nonrenewal of policy must be mailed sixty days prior to renewal date--Exceptions.§ 58-1-14.1
Notice of refusal to renew--Thirty§ 58-1-16.1
Applicability of §§ 58-1-18
Repealed by SL 2012, ch 252, § 30.§ 58-1-2
Definition of terms.