California Insurance Code

§ 10236.13

INS § 10236.13 Effective Jan 1, 2017Div. 2 · Part 2 · Ch. 2.6 · Art. 4

Statute text

No insurer may increase the premium for an individual or group long-term care insurance policy or certificate approved for sale under this chapter unless the insurer has received prior approval for the increase from the commissioner. The insurer shall submit to the commissioner for approval all proposed premium rate schedule increases, including at least all of the following information:

(a)Certification by an actuary, who is a member of the American Academy of Actuaries and who meets the qualification standards of that organization, that:

(1)If the requested premium rate schedule increase is implemented and the underlying assumptions, which reflect moderately adverse conditions, are realized, no further premium rate schedule increases are anticipated.

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Legislative history

Amended by Stats. 2016, Ch. 304, Sec. 15. (AB 2884) Effective January 1, 2017.