§ 27-9-38 - Collection and compilation of experience data.
SECTION 27-9-38
§ 27-9-38 Collection and compilation ofexperience data. – The commissioner shall promulgate reasonable rules and statistical plansreasonably adapted to each of the rating systems on file with the commissioner,which may be modified and which shall be used after this by each insurer in therecording and reporting of its loss and country wide expense experience, inorder that the experience of all insurers may be made available at leastannually in a form and detail as may be necessary to aid him or her indetermining whether rating systems comply with the standards set forth in§§ 27-9-4 – 27-9-6. Those rules and plans may also provide forthe recording and reporting of expense experience items which are speciallyapplicable to the state and are not susceptible of determination by a proratingof country wide expense experience. In promulgating those rules and plans, thecommissioner shall give due consideration to the rating systems on file withhim or her and, in order that those rules and plans may be as uniform as ispracticable among the several states, to the rules and to the form of the plansused for the rating systems in other states. No insurer shall be required torecord or report its loss experience on a classification basis that isinconsistent with the rating system filed by it. The commissioner may designateone or more rating organizations or other agencies to assist the commissionerin gathering that experience and making compilations of it, and thosecompilations shall be made available, subject to reasonable rules promulgatedby the commissioner, to insurers and rating organizations.