§ 26-14-108 — Disapproval of rates; bases; procedures

(a) The commissioner shall disapprove a rate for use in a
noncompetitive market if he finds pursuant to subsection (b) of
this section that the rate is excessive, inadequate or unfairly
discriminatory.
(b) Disapproval of rates by the commissioner shall be
subject to the following procedures:
(i) Prior to the expiration of the waiting period or
an extension thereof of a filing made pursuant to W.S.
26-14-107(b), the commissioner may disapprove by written order
rates filed pursuant to W.S. 26-14-107(b) without hearing. The
order shall specify in what respects such filing fails to meet
the requirements of this chapter. Any insurer whose rates are
disapproved under this section shall be given a hearing upon
written request made within thirty (30) days of disapproval;
(ii) If at any time the commissioner finds that a
rate applicable to insurance sold in a noncompetitive market
does not comply with the standards set forth in W.S. 26-14-105,
he may, after a hearing held upon not less than twenty (20) days
written notice, issue an order in accordance with subsection (c)
of this section, disapproving the rate. Such notice shall be
sent to every insurer and rate service organization which
adopted the rate and shall specify the matters to be considered
at the hearing. The order shall not affect any contract or
policy made or issued prior to the expiration of the period set
forth in the order.
(c) If the commissioner disapproves a rate pursuant to
subsection (b) of this section, he shall issue an order within
thirty (30) days of the close of the hearing specifying in what
respects the rate fails to meet the requirements of this
chapter. The order shall state an effective date no sooner than
forty-five (45) business days after the date of the order when
the use of the rate shall be discontinued. The order shall not
affect any policy made before the effective date of the order.