§ 27-4.1-7 - Disapproval of forms.
SECTION 27-4.1-7
§ 27-4.1-7 Disapproval of forms. –(a) The commissioner may, within sixty (60) days after the filing of any form,disapprove the form:
(1) If the benefits provided in the form are unreasonable inrelation to the premium charged;
(2) If it contains a provision or provisions which areunjust, unfair, inequitable, misleading, deceptive, or encouragemisrepresentation of the policy, or if it fails to include a provision deemedby the commissioner to be necessary for the protection of the interest of thepublic; or
(3) If it does not comply with the requirements of the law.
(b) If the commissioner notifies the insurer that has filedany form that it does not comply with the provisions of this chapter, it shallbe unlawful for the insurer to issue that form or use it in connection with anypolicy. In that notice the commissioner shall specify the reasons for his orher disapproval and state that a hearing will be granted within twenty (20)days after a request in writing by the insurer.
(c) The commissioner may for good cause exempt any groupinsurance policy or class of group insurance policies from the requirements ofsubsection (a).