RS 22:1464

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RS 22:1464

§1464. Rate filing

A.(1) Every insurer whose rates are subject to regulation under the provisions of this Subpart shall file with the commissioner, except as to individually rated excess insurance coverages which are not written according to manual rates or rating plans, every manual, minimum, class rate, rating schedule, or rating plan and every other rating rule and every modification of any of the foregoing which it proposes to use. Every such filing shall state the proposed effective date thereof and shall indicate the character and extent of the coverage contemplated. Specific inland marine rates on risks specifically rated, made by a rating organization, shall be filed with the commissioner.

(2)If a filing made pursuant to this Subsection is not accompanied by the information upon which the insurer or rating organization supports the rate filing, and the commissioner does not have sufficient information to determine whether the rate filing meets the requirements of this Subpart, the commissioner shall require the insurer or rating organization to provide the information upon which it supports its filing, and the periods provided in R.S. 22:1451 shall commence as of the date that the information is furnished to complete the filing.

(3)The commissioner is authorized to verify statistical data included in any rate filing made pursuant to this Section either by requiring substantiating written documentation or by inspecting records of insurers or rating organizations at the home office or any branch office of the insurer or rating organization.

B. An insurer may make a rate filing either by filing its final rates or by filing a loss cost multiplier and, if applicable, an expense constant adjustment to be applied to prospective loss costs that have been filed by an advisory organization on behalf of the insurer as permitted by R.S. 22:1471.

C. Specific inland marine rates on risks specially rated by a rating organization shall become effective when filed with the commissioner and shall be deemed to meet the requirements of this Subpart until such time as the commissioner reviews the filing and shall remain in effect until such time as a new filing is made or by action of the commissioner.

D.(1) All rates, supplementary rate information, and any supporting information filed pursuant to this Subpart shall be open to public inspection upon expiration of the notification period as applicable pursuant to R.S. 22:1451, or upon disapproval, except for information that is confidential, trade secret, or proprietary. The determination of whether such information is in fact confidential, trade secret, or proprietary shall be made by the commissioner.

(2)(a) If the commissioner receives a request for any information which has been marked by the insurer or filer as confidential, trade secret, or proprietary, prior to disclosure, the commissioner shall notify the insurer or filer in writing of the request and the commissioner's determination of whether or not the information so requested is subject to disclosure.

(b)Within ten days of receipt of the notification, the insurer or filer may request a hearing before the division of administrative law in accordance with R.S. 22:2191 et seq. In the event of a hearing request, the commissioner's determination as to whether the information is confidential, trade secret, or proprietary shall be stayed.

(c)Any action brought pursuant to this Paragraph shall be tried by preference and in a summary manner. The court may review the documents in-camera before reaching a decision.

(3)Nothing in this Subsection precludes the public examination or reproduction of any record or part of a record which is not confidential, proprietary, or trade secret.

E. Notwithstanding any other provision in this Section to the contrary, a rate in excess of the rate provided in a filing otherwise applicable may be applied to an insured on a specific risk, provided the insurer files a written application to the commissioner stating the reasons for the excess rate and the excess rate is approved by the commissioner.

Acts 1958, No. 125. Amended by Acts 1960, No. 296, §1; Acts 1964, No. 362, §1; Acts 1966, No. 136, §1; Acts 1978, No. 523, §1; Acts 1978, No. 525, §1; Acts 1983, 1st Ex. Sess., No. 1, §6; Acts 1988, No. 357, §1, eff. Sept. 1, 1988; Acts 1991, No. 814, §2; Acts 2003, No. 456, §§1 and 2; Acts 2005,1st Ex. Sess., No. 12, §2, eff. Nov. 29, 2005; Acts 2007, No. 459, §1, eff. Jan. 1, 2008; Redesignated from R.S. 22:1407 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009; Acts 2024, No. 10, §1, eff. May 7, 2024; Acts 2025, No. 11, §1.

NOTE: Former R.S. 22:1464 redesignated as R.S. 22:1484 by Acts 2008, No. 415, §1, eff. Jan. 1, 2009.