60A.32 RATE FILING FOR CROP HAIL INSURANCE.
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60A.32 RATE FILING FOR CROP HAIL INSURANCE.
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Subdivision 1. Authority.
An insurer issuing policies of insurance against crop damage by hail in this state shall file its insurance rates with the commissioner using the expedited filing procedure under subdivision 2. The insurance rates must be filed before February 1 of the year in which a policy is issued.
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Subd. 2. Compliance certifications.
In addition to the proposed rates, an insurer shall file with the Department of Commerce on a form prescribed by the commissioner a written certification, signed by an officer of the insurer, that the rates comply with section 70A.04 . Rates filed under this procedure are effective upon the date of receipt or on a subsequent date requested by the insurer.
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Subd. 3. Fee.
In order to be effective, the filing must be accompanied by payment of the applicable filing fee.