§ 27-7.1-2 - Approval of policies.
SECTION 27-7.1-2
§ 27-7.1-2 Approval of policies. –(a) Every insurance company issuing workers' compensation insurance policiescovering the payment of compensation and benefits provided for in this chaptershall file with the director:
(1) A copy of the form of the policies. A policy may not beissued until the director has approved the form; and
(2) Its classification of risks and their premium rates andany subsequent proposed classifications and premium rates, which may not takeeffect until the expiration of sixty (60) days from the date the director hasapproved them.
(b) Premium rates less than those approved may be used andfiled with the director. If the director has reason to believe that the filingproduces rates that are inadequate or unfairly discriminatory, the director maydisapprove them.
(c) Any policy forms, subject to this chapter and filed by aninsurer or rating organization on behalf of its members or subscribers with thedirector, shall be deemed public information at the time of the filing; and thedirector shall furnish the policy forms and all pertinent information as to thepolicy forms, upon written request, to any insured, to any authorizedrepresentative of an insured, to any insurance company trade association, or toany trade association of insurance producers.