02-031 C.M.R. ch. 470, § 5 - Limit on subsequent premium adjustments
If the insurer has not established the final premium 120 days after the policy period ends, or any extension pursuant to Section 7 below, the insurer is prohibited from billing or collecting any additional premium exceeding the latest billed premium immediately prior to the 120-day time limit. However, if the insurer has failed to perform a final premium audit within the 120-day time limit, the insured, upon written request to the insurer, is entitled to a final premium audit for the purpose of determining if the insured has been overcharged.
Notes
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