Oregon Administrative Rules
Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION
Division 42 - RATES AND RATEMAKING
Section 836-042-0510 - Rates, Rating Plans System - Prior Review
Universal Citation: OR Admin Rules 836-042-0510
Current through Register Vol. 63, No. 9, September 1, 2024
(1) An insurer or rating organization shall submit to the Director its filing of rates, rating plans and rating systems for a commercial liability insurance market specified in OAR 836-042-0512 prior to the effective date of the rates, rating plans and rating system if the average annual total limits rate level increase or decrease for such market exceeds 15 percent because of changes in any:
(a) Total
limits base rates;
(b) Rating
basis;
(c) Rating plans;
(d) Manual rules;
(e) Territorial definitions; or
(f) Combination of such rating system
components, described in this section, or the compounding series of such
changes applied at a date other than the anniversary rating date of a
policy.
(2) Nothing in this rule applies to annual rate increases or decreases from:
(a) Change in hazard of the insured's
operation;
(b) Change in magnitude
of the exposure basis for the insured, (such as changes in payroll or sales, or
other matters); or
(c) Application
in parameter values provided for in a rating plan approved by the Director,
including those approved prior to August 24, 1988.
Stat. Auth.: ORS 731 & ORS 737
Stats. Implemented: ORS 737.207(2) & ORS 737.320(6)
Disclaimer: These regulations may not be the most recent version. Oregon may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
