The purpose of 3 AAC 29.400 - 3 AAC 29.469 is to establish standards for schedule rating to ensure that

1. (1) a credit or debit that modifies a premium under a schedule rating plan is based only on risk characteristics that can be reasonably expected to affect losses or loss adjustment expenses;
2. (2) the assignment of a credit or debit under a schedule rating plan results in a rate that is not excessive, inadequate, or unfairly discriminatory; and
3. (3) documentation in an insurer's underwriting file provides sufficient detail to establish that the assignment of a credit or debit under a schedule rating plan complies with 3 AAC 29.400 - 3 AAC 29.469.

(Eff. 7/24/98, Register 147)

Authority: AS 21.06.090, AS 21.39.030, AS 21.39.040