Maine Revised Statutes Title 24-A Sec. 2321-E – Filing of prospective loss costs and supplemental information
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Maine Revised Statutes Title 24-A Sec. 2321-E
- Prospective loss costs: means that portion of a rate that does not include provisions for expenses, other than loss adjustment expenses, or profit, and is based on historical aggregate losses and loss adjustment expenses adjusted through development to their ultimate value and projected through trending to a future point in time. See Maine Revised Statutes Title 24-A Sec. 2302-A
- Supplementary rating information: means any manual or plan of rates, classification rating schedule, minimum premium, policy fee, rating rule, underwriting rule, statistical plan and any other similar information needed to determine the applicable rate in effect or to be in effect. See Maine Revised Statutes Title 24-A Sec. 2302-A
- Supporting information: means :
Advisory organizations may develop and file with the superintendent for approval prospective loss costs and supplementary rating information. Such filings shall contain the statistical data and supporting information for calculations or assumptions underlying the prospective loss costs. Advisory organization filings are subject to the provisions of sections 2303, 2304?A and 2304?B. [PL 1989, c. 797, §23 (NEW); PL 1989, c. 797, §§37, 38 (AFF).]
SECTION HISTORY
PL 1989, c. 797, §§23,37,38 (NEW).