Mich. Admin. Code R. 500.1506 - Expense provisions

Current through Vol. 22-05, April 1, 2022

Rule 6.

(1) The expense portion of a rate must, with regard to each category of expense, be examined and evaluated independent of the loss portion of the rate. Expenses must not be presumed to change by the same percentage as losses are anticipated to change.
(2) Predictions of future expense costs must give due consideration to trends and changes in historical expense levels, in actual or reasonably allocated expenses incurred, and in external expense indices and indicators.

Notes

Mich. Admin. Code R. 500.1506
1981 AACS; 2021 MR 6, Eff. 3/24/2021

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