1. (1) A rate service organization may develop and make a reference filing containing advisory prospective loss costs.

2. (2) Each reference filing shall:

   1. (a) contain the statistical data and supporting information for each calculation or assumption underlying the prospective loss costs; and
   2. (b) comply with the rate filing requirements under Section 31A-19a-203.

3. (3) An insurer may file rates if the insurer:

   1. (a) becomes a participating insurer of a licensed rate service organization that makes an advisory prospective loss costs reference filing;
   2. (b) authorizes the commissioner to accept a reference filing on the insurer's behalf; and
   3. (c) files the information required in Section R590-140-5 with the commissioner.

4. (4) If an insurer follows the procedure outlined in Subsection (3), the insurer's rates shall be:

   1. (a) the prospective loss costs filed by the rate service organization; and
   2. (b) any adjustment in effect for the insurer under Section R590-140-5 to the filed prospective loss costs.
5. (5) An insurer's adjustment regarding a prospective loss costs filing becomes effective in accordance with the rate filing requirements under Section 31A-19a-203.

KEY: insurance

Date of Last Change: December 9, 2021

Notice of Continuation: February 5, 2025

Authorizing, and Implemented or Interpreted Law: 31A-2-201