North Dakota Code 26.1-25-15 – Assigned risks
1. An agreement may be made among insurers with respect to the equitable apportionment among them of insurance which may be afforded applicants who are in good faith entitled to but who are unable to procure such insurance through ordinary methods and the insurers may agree among themselves on the use of reasonable rate modifications for such insurance. The agreement is subject to the approval of the commissioner.
Terms Used In North Dakota Code 26.1-25-15
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49
- Rule: includes regulation. See North Dakota Code 1-01-49
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49
- written: include "typewriting" and "typewritten" and "printing" and "printed" except in the case of signatures and when the words are used by way of contrast to typewriting and printing. See North Dakota Code 1-01-37
2. The agreement approved in subsection 1 must be called the North Dakota automobile insurance plan. The plan may issue policies of insurance in the name of the plan for the applicants described in subsection 1, and to provide policyholder and claim- handling services.
3. A policy of insurance issued by the plan must be recognized as if issued by an insurance company authorized to issue insurance in this state. The policy also is considered proof of financial responsibility in accordance with title 39. This section does not revoke any exception granted in another section of law.
4. Every form and every modification, proposed to be used by the plan, of a policy, endorsement, rider, manual of classification, rule, rate, or rating plan, must be filed and approved by the commissioner before use.
5. An insurance company writing insurance in this state for private passenger motor vehicles, commercial motor vehicles, and other motor vehicles must be a subscriber to the plan.
6. The plan shall file an annual audited financial report with the commissioner promptly upon the completion of the report.
7. An applicant for a policy, any person insured under a policy, and any insurance company affected may appeal to the commissioner from a ruling or decision of the plan. A person aggrieved by an order or act of the commissioner, within thirty days after receipt of written notice of the order or act, may file a petition in the district court of Burleigh County.
8. The plan may be managed and operated by one or more entities approved by the commissioner.
9. The commissioner may adopt rules to establish plan requirements and implement this section.