§ 4688 — Filing of rates and other rating information

(a) Filings as to competitive markets. Except with respect to filings submitted pursuant to section 4687 of this title, in a competitive market, every insurer shall file with the Commissioner all rates and supplementary rate information, and supporting information that are to be used in this State, provided that such rates and information need not be filed for specifically rated inland marine risks or such other risks that are designated by regulation of the Commissioner as not requiring a filing. Such rates, supplementary rate information, and supporting information shall be provided to the Commissioner not later than 30 days prior to the effective date. An insurer may adopt by reference, with or without deviation or modification, provided that said deviation or modification is readily identifiable, the rates, supplementary rate information, and supporting information filed by another insurer or an advisory or service organization with which it is affiliated; provided, however, such an adoption shall not relieve an insurer from any other requirements of this chapter.
(b) Prefilings for competitive markets. Except with respect to filings submitted pursuant to section 4687 of this title, in a competitive market, if the Commissioner finds, after a hearing, that an insurer’s rates require closer supervision because of the insurer’s financial condition, the insurer shall provide and file for approval of the Commissioner, at least 30 working days before the proposed effective date therefor, all such rates and such supplementary rate information and supporting information as prescribed by the Commissioner. Upon application by the filer, the Commissioner may authorize an earlier effective date.
(c) Prefilings in a noncompetitive market.
(1) Except with respect to filings submitted pursuant to section 4687 of this title, in a noncompetitive market every insurer or its authorized advisory or service organization except as prohibited by subdivision 4690(b)(2) of this title shall provide and file for approval of the Commissioner all rates, supplementary rate information, and supporting information for noncompetitive markets at least 30 working days before the proposed effective date therefor. The Commissioner may give written notice, within 30 working days after the receipt of the filing, that the Commissioner needs additional time, not to exceed 30 days from the date of such notice, to consider the filing. Upon written application of the insurer, the Commissioner may authorize rates to be effective before the expiration of the waiting period or any extension thereof. A filing shall be deemed to meet the requirements of this chapter and become effective, unless disapproved pursuant to section 4689 of this title by the Commissioner before the expiration of the waiting period or any extension thereof.
(2) Rates for residual market risks shall be subject to the filing requirements of subdivision (c)(1) of this subsection.
(d) Requirements of Commissioner.
(1) Rates filed pursuant to this section shall be filed in such form and manner as may be prescribed by the Commissioner. Rates filed by an insurer for workers’ compensation and employers’ liability insurance shall be filed simultaneously, for information only, with the designated advisory or service organization.
(2) For a noncompetitive market, whenever a filing is not accompanied by such information as the Commissioner requires under this section, the Commissioner shall so inform the insurer as soon as possible and the filing shall not be deemed made until such information is furnished.
(e) Filings open to inspection. All rates, supplementary rate information, and any nonproprietary supporting information for risks filed under this chapter shall, as soon as filed or after approval for those matters subject to prefiling, be open to public inspection at any reasonable time. Copies may be obtained by any person on request and upon payment of a reasonable charge in the manner and amount prescribed by the Commissioner.
(f) Consent to rate. Notwithstanding any other provisions of this title to the contrary, upon written application of the named insured, stating the reasons therefor and filed for approval of the Commissioner, a rate in excess of, or coverage more restrictive than, that provided by an otherwise applicable filing may be used on any specific risk. Such rate or coverage shall not be effective unless approved by the Commissioner and in accordance with the effective date therefor established by the Commissioner.
(g) Rating manuals and related information. Notwithstanding any other provision of this chapter to the contrary, every insurer shall file with the Commissioner all manuals of rates and rating rules that it uses in this State, and shall identify the day, month, and year on which such rates and rules were first used by the insurer. This requirement may be satisfied by reference to the manuals of rates or rating rules filed by the advisory or service organization with which the insurer is affiliated and to the extent utilized. Upon specific request of the Commissioner, an insurer shall provide the Commissioner with a copy of the underwriting rules or guides that it uses in this State.
(h) Form or mode of information required to be furnished to the Commissioner. The Commissioner may prescribe, by rule or regulation, the form or mode in which the information required to be furnished to the Commissioner pursuant to this section must be filed. (Added 1983, No. 238 (Adj. Sess.), § 1; amended 1989, No. 128 (Adj. Sess.), § 4; 2021, No. 105 (Adj. Sess.), § 221, eff. July 1, 2022; 2023, No. 32, § 6, eff. July 1, 2023; 2025, No. 23, § 3, eff. July 1, 2025.)