Code of Massachusetts Regulations
211 CMR - DIVISION OF INSURANCE
Title 211 CMR 121.00 - Procedures Concerning Rate Filings Made Pursuant To M.g.l. C. 176k, And The Conduct Of Hearings On Such Filings
Section 121.05 - Rate Filings under M.G.L. c. 176K, Section 7(g)
Current through Register 1531, September 27, 2024
(1) Purpose. Rate Filings under M.G.L. c. 176K, § 7(g), must furnish sufficient evidence to substantiate the Filer's compliance with the requirements of M.G.L. c. 176K, including, but not limited to, compliance with the anticipated minimum loss ratio standards of M.G.L. c. 176K, § 7(e). The Rate Filing constitutes the Filer's direct case in support of its Rate Request.
(2) Contents. The Rate Filing must consist of sequentially numbered pages and contain:
(3) Amendments. A Filer may move in writing to amend or make additions or corrections to its Rate Filing, for good cause shown. The Presiding Officer, in his or her discretion, may deny or allow, in whole or in part, a Filer's motion to amend or make additions or corrections to its Rate Filing. Filing of an Amended Rate Filing, when permitted, shall be made in the same manner as a Rate Filing.
(4) Copies. In addition to submitting its Rate Filing to the Division in the form and manner prescribed by the Commissioner for all rate and form filings, a Filer making a Rate Filing under M.G.L. c. 176K, § 7(g) also shall concurrently file five copies of the Rate Filing with the Docket Clerk, unless the Presiding Officer directs otherwise. The text and data included in the Rate Filing also must be filed electronically in a format determined by the Presiding Officer. Concurrently, the Filer shall serve two copies of its Rate Filing on the State Rating Bureau, and one copy on each Statutory Intervenor and any Intervenor permitted to appear in the Filer's last rate Hearing for that insurance product, unless such person has advised the Filer that a copy is not wanted. The Filer shall serve a copy of its Rate Filing on a person permitted to intervene within two business days after issuance of an order allowing the person to intervene. By agreement of the Parties concerned, copies may be served on a Party electronically.
The Filer of an Amended Rate Filing shall comply with 211 CMR 121.05(4). 211 CMR 121.15 addresses Revised Rate Filings.