Ill. Admin. Code tit. 50, § 2902.50 - Rate Filings

Current through Register Vol. 46, No. 15, April 8, 2022

a Rate filing requirements can be met by:
1 A company making a direct filing on its own behalf;
2 A company adopting its rating organization advisory rate filing;
3 A company filing a deviation to its rating organization advisory rate filing; or
4 A company adopting its rating organization pure premium rate filing, providing the company files its modification factor or factors used for expenses and profits.
b All company rate filings in SERFF must include the Company Rate Information, which shall include:
1 Overall % indicated change;
2 Overall % rate impact (meaning the statewide average percentage change to the accepted rates for the coverage's included for each company);
3 Written premium change for this program (meaning the statewide change in written premium based on the proposed overall percentage rate impact for each company);
4 Number of policyholders affected for this program (meaning the number of policyholders affected by the overall percentage rate impact for each company);
5 Written premium for this program (meaning the statewide written premium for each company);
6 Maximum % change; and
7 Minimum % change.
c All rate filings must include:
1 The name of the company making the filing;
2 Notification of whether the filing is new or supersedes a present filing. Identification of the superseded filing, as well as identification of all changes from the superseded filing, is required; and
3 Effective date of use.
d Documentary data for rates and changes filed under this Section must be maintained by the company or its rating organization to be available upon and in accordance with the Department's request for review by the Department's Property and Casualty Compliance Unit.

Notes

Ill. Admin. Code tit. 50, § 2902.50
Amended at 38 Ill. Reg. 21484, effective 10/31/2014

The following state regulations pages link to this page.



State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.