NAIC’s Compendium of State Laws on Insurance Topics
RATE FILING METHODS FOR PROPERTY/CASUALTY INSURANCE, WORKER’S COMPENSATION, TITLE
§ 627.062 (amendments pending)
§ 627.062 (amendments pending); Reg. 69O-170.019
file and use (60 days) or use and file, (30 days) (insurer’s option)
file and use (90 days) or use and file (30 days) (insurer’s option)
all other lines except title and worker’s compensation
Maintain documentation to show justification for individual rate or that risk meets definition of a large commercial risk; complete quarterly reports.
individually rated risks and large commercial risks
rate set by FL Dept.
If use and file rate is found excessive, the insurer must return excise premium.
prior approval (45 day deemer with option to extend by 100 days)
personal private passenger auto
file and use (45 days)
other p/c lines, including worker’s compensation
large commercial risks
Directive 90-PC-6 is filing standard for loss cost.
Any filing may be examined. Increases of 10% to 25% may be examined at the commissioner’s discretion. Greater than requires 25% mandatory examination.
§ 627.091 (amendments pending)
§ 627.782 § 33-9-21 (amendments pending)
© 2006 National Association of Insurance Commissioners