Minnesota Legislature
Office of the Revisor of Statutes
2006 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
70A.08 RATE MAKING AND RATE FILING AUTHORITY.
Subdivision 1. Delegated rate making permitted. An insurer may itself establish rates
and supplementary rate information for any or all kinds or lines of insurance or subdivisions
thereof or classes of risks or combinations thereof, based on its own experience, modified by other
relevant experience to achieve credibility, or it may use rates and supplementary rate information
prepared by a rate service organization, with average expense factors determined by the rate
service organization or with such modification for its own expense and loss experience as the
credibility of that experience allows.
Subd. 2. Delegated rate filing permitted. An insurer may discharge its obligation under
section 70A.06 by giving notice to the commissioner that it uses rates and supplementary rate
information prepared by a designated rate service organization, with such information about any
modifications thereof as are necessary fully to inform the commissioner. The insurer's rates
and supplementary rate information shall be those filed from time to time by the rate service
organization, including any amendments thereto as filed, subject, however, to any modifications
filed by the insurer, until the insurer gives notice to the commissioner changing or terminating
the designation.
Subd. 3. Approval of claims-made policies. The commissioner may restrict approval on
claims-made policies to forms filed by a rate service organization which have been approved.
History: 1969 c 958 s 8; 1986 c 455 s 54; 1987 c 337 s 114
Subdivision 1. Delegated rate making permitted. An insurer may itself establish rates
and supplementary rate information for any or all kinds or lines of insurance or subdivisions
thereof or classes of risks or combinations thereof, based on its own experience, modified by other
relevant experience to achieve credibility, or it may use rates and supplementary rate information
prepared by a rate service organization, with average expense factors determined by the rate
service organization or with such modification for its own expense and loss experience as the
credibility of that experience allows.
Subd. 2. Delegated rate filing permitted. An insurer may discharge its obligation under
section 70A.06 by giving notice to the commissioner that it uses rates and supplementary rate
information prepared by a designated rate service organization, with such information about any
modifications thereof as are necessary fully to inform the commissioner. The insurer's rates
and supplementary rate information shall be those filed from time to time by the rate service
organization, including any amendments thereto as filed, subject, however, to any modifications
filed by the insurer, until the insurer gives notice to the commissioner changing or terminating
the designation.
Subd. 3. Approval of claims-made policies. The commissioner may restrict approval on
claims-made policies to forms filed by a rate service organization which have been approved.
History: 1969 c 958 s 8; 1986 c 455 s 54; 1987 c 337 s 114
Official Publication of the State of Minnesota
Revisor of Statutes