Compilation of Rules and Regulations of the State of Georgia
Department 120 - OFFICE OF COMMISSIONER OF INSURANCE, SAFETY FIRE COMMISSIONER AND INDUSTRIAL LOAN COMMISSIONER
Chapter 120-2 - RULES OF COMMISSIONER OF INSURANCE
Subject 120-2-37 - GEORGIA WORKER'S COMPENSATION INSURANCE RATE FILINGS
Rule 120-2-37-.05 - Individual Rate Filings

(1) After the effective date of this Regulation and except as otherwise otherwise in Rule 120-2-36-.08 of the Rules and Regulations of the Department, every insurer desiring to revise the premium rates it charges for workers' compensation insurance coverage in this State shall file such insurer's own individual rate filing with the Commissioner. Such insurer shall simultaneously file a copy of such filing with the authorized rating organization of which the insurer is a member or subscriber.

(2) Premium rate for each individual rate filing shall be developed and established based upon each individual insurer's experience in the State of Georgia to the extent such experience is actuarially credible. Where the experience of an insurer is less than fully credible, such experience may be credibility-weighted against the latest corresponding experience as filed with the Department by an authorized rating organization. The Commissioner may make the determination as to the credibility of the material contained in such a filing or filings.

(3) With each individual rate filing, the individual insurer shall include the loss ratios, reserves, reserve development information, expenses including commissions paid and dividends paid, investment income, pure premium data adjusted for loss development and loss trending, profits and all other data and information used by that insurer for formulating its workers' compensation premium rates contained in the individual rate filing.