Sec. 20.2. (a) Every company and the bureau shall file with the commissioner all minimum premiums, rates, and supplementary rate information that are to be used in Indiana. Such minimum premiums, rates, and supplementary rate information must be submitted to the commissioner at least thirty (30) days before the effective date. The commissioner shall disapprove a filing that does not meet the requirements of section 20.1 of this chapter. A filing shall be deemed approved unless disapproved by the commissioner within thirty (30) days after the filing is made. A company may adopt by reference, with or without deviation, the minimum premiums, rates, and supplementary rate information filed by another company or by the bureau.

     (b) Minimum premiums, rates, and supplementary information filed under this section shall be filed in the form and manner prescribed by the commissioner.

Terms Used In Indiana Code 27-7-2-20.2

  • Bureau: means the worker's compensation rating bureau of Indiana. See Indiana Code 27-7-2-2
  • Commissioner: means the insurance commissioner of this state. See Indiana Code 27-7-2-2
  • Company: means an insurance company and includes all persons, partnerships, corporations, or associations engaged in making worker's compensation insurance under the laws of this state. See Indiana Code 27-7-2-2
  • Department: means the department of insurance of this state. See Indiana Code 27-7-2-2
  • Person: includes individuals, corporations, firms, companies, associations, and partnerships. See Indiana Code 27-7-2-2
  • Rate: means the cost of insurance per exposure base unit, prior to any application of individual risk variations based on loss or expense considerations, and does not include minimum premiums. See Indiana Code 27-7-2-2
  • Supplementary rate information: means any manual or plan of rates, classification system, rating schedule, minimum premium, rating rule, rating plan, and any other similar information needed to determine the applicable premium for an insured. See Indiana Code 27-7-2-2
  • United States: includes the District of Columbia and the commonwealths, possessions, states in free association with the United States, and the territories. See Indiana Code 1-1-4-5
     (c) There shall accompany each filing adequate proof that notice of the filing has been mailed, by first class United States mail, to each interested person at the person’s address as shown on the records of the department.

     (d) All material filed by the bureau or any company as part of any official rate filing shall, as soon as filed, be open to the public for inspection and copying under IC 5-14-3. This requirement is not applicable to information and data transmitted to the department or the worker’s compensation board, or to both, under section 20 or 40 of this chapter.

As added by P.L.249-1989, SEC.10. Amended by P.L.275-2013, SEC.19.

  Previous section
Next section  
 Chapter 2 Contents