California Insurance Code

§ 10236.15

INS § 10236.15 Effective Jan 1, 2017Div. 2 · Part 2 · Ch. 2.6 · Art. 4

Statute text

Premium rate schedule increases that have been approved shall be subject to the following:

(a)For each rate increase that is implemented, the insurer shall file for approval by the commissioner updated projections, as defined in paragraph (1) of subdivision (b) of Section 10236.13, annually for the next three years and include a comparison of actual results to projected values. The commissioner may extend the period to greater than three years.

(b)(1) If the commissioner has determined that the actual experience following a rate increase does not adequately match the projected experience and that the current projections under moderately adverse conditions demonstrate that incurred claims will not exceed proportions of premiums specified in subdivision (a), the commissioner may require the insurer to implement any of the following:

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Legislative history

Amended by Stats. 2016, Ch. 304, Sec. 17. (AB 2884) Effective January 1, 2017.