Hawaii Revised Statutes 431:14-107.3 – Rating or advisory organizations, prohibited activity
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Hawaii Revised Statutes 431:14-107.3
- Expenses: means that portion of a rate attributable to acquisition, field supervision, collection expenses, general expenses, taxes, licenses, and fees; provided that no tax credit received by any insurer under § 431:7-207 shall reduce the expenses of the insurer for purposes of determining the insurer's rate under this article for the first year of any insurer's rate which is approved pursuant to this article and for which the insurer submits before July 1, 1993, a filing pursuant to the applicable sections of this code to modify the rate in existence on June 30, 1992. See Hawaii Revised Statutes 431:14-101.5
Except as specifically permitted under this article or any rule adopted thereunder, no rating or advisory organization shall compile or distribute recommendations relating to rates that include expenses (other than loss adjustment expenses) or profit.