Alabama Administrative Code
Title 482 - ALABAMA DEPARTMENT OF INSURANCE
Chapter 482-1-093 - CREDIT PROPERTY AND INVOLUNTARY UNEMPLOYMENT INSURANCE
Section 482-1-093-.10 - Rates

Universal Citation: AL Admin Code R 482-1-093-.10

Current through Register Vol. 42, No. 5, February 29, 2024

(a) Credit Property Insurance, other than Involuntary Unemployment Insurance. It shall be presumed in any review of rates filed with the commissioner that the benefits are reasonable in relation to the premium charged if the premium rates do not exceed those contained in Exhibit A of this chapter. Any insurer filing rates in excess of those contained in Exhibit A must demonstrate that its rates produce or may reasonably be expected to produce a loss ratio of at least fifty percent (50%).

(b) Involuntary Unemployment Insurance. It shall be presumed in any review of rates filed with the commissioner that the benefits are reasonable in relation to the premium charged if the premium rates do not exceed those contained in Exhibit B of this chapter. Any insurer filing rates in excess of those contained in Exhibit B must demonstrate that its rates produce or may reasonably be expected to produce a loss ratio of at least fifty percent (50%).

Author: Vincent R. Ledlow, Associate Counsel

Statutory Authority: Code of Ala. 1975, § 27-2-17.

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