South Dakota § 58-24-6.1 Failure of rate to reflect difference in expected losses and expenses as unfair discrimination--Averaged group rates not unfairly discriminatory.

South Dakota Statutes

§ 58-24-6.1 — Failure of rate to reflect difference in expected losses and expenses as unfair discrimination--Averaged group rates not unfairly discriminatory.

South Dakota § 58-24-6.1

Title 58INSURANCE

Ch. 58-23AFIRE, MARINE, CASUALTY, AND SURETY INSURANCE RATES AND RATING ORGANIZATIONS

This text of South Dakota § 58-24-6.1 (Failure of rate to reflect difference in expected losses and expenses as unfair discrimination--Averaged group rates not unfairly discriminatory.) 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 § 58-24-6.1 (2026).

Text

One rate is unfairly discriminatory in relation to another in the same class if it clearly fails to reflect equitably the difference in expected losses and expenses. Rates are not unfairly discriminatory because different premiums result for policyholders with like loss exposures but different expense factors, or like expense factors but different loss exposures, so long as the rates reflect the differences with reasonable accuracy. Rates are not unfairly discriminatory if they are averaged broadly among persons insured under a group, franchise, or blanket policy.

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One rate is unfairly discriminatory in relation to another in the same class if it clearly fails to reflect equitably the difference in expected losses and expenses. Rates are not unfairly discriminatory because different premiums result for policyholders with like loss exposures but different expense factors, or like expense factors but different loss exposures, so long as the rates reflect the differences with reasonable accuracy. Rates are not unfairly discriminatory if they are averaged broadly among persons insured under a group, franchise, or blanket policy.