It is essential for maintaining the viability of the Plan to establish and maintain rates at a level that will permit the Plan to operate with no more than a reasonable subsidy required from voluntary insured employers. The NCCI shall maintain necessary ratemaking data in order to permit the actuarial determination of rates and rating plans appropriate for the business insured through the Plan. Each servicing carrier shall report its experience on business written under the Plan to the NCCI in a format prescribed by the NCCI. It is the responsibility of the NCCI to monitor both rate adequacy and Plan results. The NCCI shall notify the Insurance Commissioner if excessive losses are indicated to enable the Insurance Commissioner to take corrective action.

Statutory/Other Authority

ORS 656.427, 656.730 & 731.244

Statutes/Other Implemented

ORS 656.427, 656.730 & 737.265

History

ID 10-1996, f. 6-27-96, cert. ef. 7-1-96, Renumbered from 836-043-0080
ID 4-1994, f. & cert. ef. 4-19-94