An insurer shall charge each insured the lowest Premium for which the insured qualifies. At each policy renewal the insurer shall adjust the Premium charged to the insured, as necessary, to reflect the lowest Premium for which the insured qualifies at that time.

Note: Authority cited: Sections 1861.05, 12921, and 12926, Insurance Code. Reference: Sections 1861.05, 1861.135(a), 1861.137(b), 11588, 12120, 12122, and 12713, Insurance Code.

History

1. New section filed 12-12-95; operative 1-11-96 (Register 95, No. 50).

2. Change without regulatory effect adding new Note filed 2-27-96 pursuant to section 100, title 1, California Code of Regulations (Register 96, No. 9).