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PA Bulletin, Doc. No. 24-1318

NOTICES

INSURANCE DEPARTMENT

Filing of Rate Ranges; Notice 2024-15

[54 Pa.B. 5958]
[Saturday, September 14, 2024]

 The purpose of this notice is to inform property and casualty insurance companies and rating organizations that, except for the use of schedule rating (which is confined to commercial lines products), product filings should not be submitted containing rate ranges. While this is not a new requirement, the Insurance Department (Department) has seen numerous filings containing rate ranges.

 Property and casualty rate filing requirements can be found at 40 P.S. §§ 1184(a), 1224(a), 710-6(a) and 910-37(a) and 77 P.S. § 1035.5(a). These statutory provisions require the filing of every manual of classifications, rules and rates and rating plan, and every modification of a manual of classifications, rules and rates and rating plan, proposed for use in this Commonwealth. By this notice, the Department reminds insurers of the requirements of, and its expectations for, compliance with these provisions.

 Rate ranges are not a substitute for the statutory requirement to file a classification plan. Although entities are not required to resubmit previous filings that contained rate ranges, the Department will not accept new filings that include manual pages previously submitted containing rate ranges. Insurers are reminded of the Department's ability to object to these filings, and that the filings may be subject to disapproval if not corrected.

 Questions regarding this notice can be addressed to Michael McKenney, Director of Property and Casualty Rate and Policy Form Review, mmckenney@pa.gov, (717) 705-0166.

MICHAEL HUMPHREYS, 
Insurance Commissioner

[Pa.B. Doc. No. 24-1318. Filed for public inspection September 13, 2024, 9:00 a.m.]


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