Ga. Comp. R. & Regs. R. 120-2-37-.05 - Individual Rate Filings
(1) After the effective date of this
Regulation and except as otherwise otherwise in Rule
120-2-36-.08 of the Rules and
Regulations of the Department, every insurer desiring to revise the premium
rates it charges for workers' compensation insurance coverage in this State
shall file such insurer's own individual rate filing with the Commissioner.
Such insurer shall simultaneously file a copy of such filing with the
authorized rating organization of which the insurer is a member or
subscriber.
(2) Premium rate for
each individual rate filing shall be developed and established based upon each
individual insurer's experience in the State of Georgia to the extent such
experience is actuarially credible. Where the experience of an insurer is less
than fully credible, such experience may be credibility-weighted against the
latest corresponding experience as filed with the Department by an authorized
rating organization. The Commissioner may make the determination as to the
credibility of the material contained in such a filing or filings.
(3) With each individual rate filing, the
individual insurer shall include the loss ratios, reserves, reserve development
information, expenses including commissions paid and dividends paid, investment
income, pure premium data adjusted for loss development and loss trending,
profits and all other data and information used by that insurer for formulating
its workers' compensation premium rates contained in the individual rate
filing.
Notes
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