38.2-2012 - Collection of experience data; uniformity; compilations available to insurers and rate service organizations.
§ 38.2-2012. Collection of experience data; uniformity; compilationsavailable to insurers and rate service organizations.
A. The Commission may promulgate reasonable rules and statistical plans foreach of the rating systems on file with it, which may be modified from timeto time. These rules and plans shall be used by each insurer in the recordingand reporting of its loss and countrywide expense experience, so that theexperience of all insurers may be made available, at least annually, in theform and detail as may be necessary to aid the Commission in determiningwhether rating systems comply with the standards set forth in subsection A of§ 38.2-2005. The rules and plans may also provide for the recording andreporting of expense experience items that are specially applicable to thisCommonwealth and cannot be determined by prorating the countrywide expenseexperience.
B. In promulgating the rules and plans, the Commission shall give dueconsideration to (i) the rating systems on file with it and (ii) the rulesand the form of the plans used for rating systems in other states so that therules and plans may be as uniform as practicable among the several states. Noinsurer shall be required to record or report its loss experience on aclassification basis that is inconsistent with the rating system filed by itor on its behalf.
C. The Commission may designate one or more rate service organizations orother agencies to assist it in gathering the experience data and makingcompilations of it. The compilations shall be made available, subject toreasonable rules promulgated by the Commission, to insurers and rate serviceorganizations.
(Code 1950, §§ 38-253.36, 38-253.82; 1952, c. 317, § 38.1-261; 1986, c. 562.)