Current through Register Vol. 48, No. 12, March 22, 2024
a) All
companies are subject to this filing requirement that write any of the
following kinds of insurance:
1) Motor
Vehicle, as used in this Section, includes only Private Passenger Automobiles,
Taxicabs and Motorcycles;
2)
Homeowners, including Mobile Homeowners;
3) Dwelling Fire and Allied Lines;
4) Workers' Compensation (see 50 Ill. Adm.
Code 2902);
5) Medical Malpractice
(see 50 Ill. Adm. Code 929); and
6)
Group Inland Marine (see 50 Ill. Adm. Code 2302).
b) The following must be filed:
1) All Companies - All underwriting rule
manuals that contain rules for applying rates or rating plans, plans for
reporting statistics to statistical agencies, classifications, or other such
schedules used in writing the kinds of insurance in subsections (a)(1) through
(a)(3)
2) All Companies - All rates
applied to the writing of the kinds of insurance in subsections (a)(1) through
(a)(3); and
3) All Advisory
Organizations - All underwriting rule manuals that contain rules for applying
rates or rating plans, plans for reporting statistics to statistical agencies,
classifications, or other such schedules used in writing the kinds of insurance
enumerated in Section 4 of the Illinois Insurance Code [215 ILCS 5 ] (Code),
Class 2, except paragraphs (a), (d) and (g) of Class 2, and Class 3.
c) The filing requirement of
subsection (b)(1) can be met by:
1) A company
making a direct filing on its own behalf; or
2) A company making a rule reference filing
on its own behalf by utilizing its advisory organization's data relative to
subsection (b)(1); or
3) A company
authorizing the advisory organization of which it is a member or subscriber to
make the filing on the company's behalf.
d) All filings required under subsection
(b)(1) must be submitted using the System for Electronic Rate and Form Filing
(SERFF) and must include:
1) The name of the
advisory organization or company making the filing;
2) Identification of the rule with the manual
or kind of insurance to which it applies;
3) Notification as to whether the filing is
new or supersedes a present filing. Identification of all changes in all
superseding filings, as well as identification of all superseded filings, is
required. The preferred format is to underline the new wording and overstrike
the deleted or changed language and give an explanation for the changes being
made, but alternative methods of indicating changes will also be accepted;
and
4) The effective date of
use.
e) The filing
requirement of subsection (b)(2) can be met by:
1) A company making a direct filing on its
own behalf; and
2) Company rate
information being completed for each company for which a filing is being
submitted. The rate information shall include:
A) Overall % indicated change;
B) Overall % rate impact - This is the
statewide average percentage change to the accepted rates for the coverages
included for each company;
C)
Written premium change for this program - This is the statewide change in
written premium based on the proposed overall percentage rate impact for each
company;
D) Number of policyholders
affected for this program - This is the number of policyholders affected by the
overall percentage rate impact for each company;
E) Written premium for this program - This is
the statewide written premium for each company;
F) Maximum % change; and
G) Minimum % change.
f) All filings required under
subsection (b)(2) must be submitted using SERFF and shall include:
1) The name of the company making the
filing;
2) Identification of the
kinds of insurance to which the filing applies;
3) Notification of whether the filing is new
or supersedes a present filing. Identification of all changes in superseding
filings, as well as identification of all superseded filing, is required;
and
4) The effective date of
use.
g) A company making
a filing under subsection (b)(2) must maintain documentary data for rate
changes in its files so that it will be available for review by the
Department's Property and Casualty Compliance Unit.
h) A company making a filing under subsection
(c)(2) or Section
754.10(c)(3)
that wants to vary from advisory
organization rules must file:
1) The manual
rule number, which must be the same as the rule number being replaced;
and
2) The effective date of
use.
i) A company making
a filing under subsection (c)(2) or (c)(3) that wants an effective date
different from that of the advisory organization's advisory effective date must
notify the Department of Insurance, using SERFF, of an automatic uniform
delayed effective date applicable to all future advisory organization rule
revisions.
j) A company authorizing
its advisory organization to file on the company's behalf under subsection
(c)(3) must have the organization notify the Department of Insurance
electronically of that authorization.