§ 2612. Restrictions on certain insurers; waiting period.
155 words·~1 min read·
/de/title-18/chapter-26-workers-compensation-rating/2612·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)The Commissioner may require that a particular insurer file any or all of its rates and supplementary rate information 30 days prior to their effective date, if the Commissioner finds after a hearing that the protection of the interests of the insurer’s insureds and the public in this State requires closer supervision of its rates.
(b)Upon written application by an insurer, the Commissioner may authorize a filing, which the Commissioner has reviewed, to become effective before the expiration of the period described in subsection
(a)of this section.
(c)The filing shall be approved or disapproved during the waiting period and if not disapproved before the expiration of the waiting period shall be deemed to meet the requirements of this section.
(d)Any insurer affected by the Commissioner’s actions under this section may request a rehearing by the Commissioner after the expiration of 12 months from the date of the Commissioner’s former order.