431:14-114

Rate administration

[§431:14A-114] Audits. The administrator, or designated representative, shall have reasonable access to any policyholder’s payroll and employment records during regular working hours to carry out audits of payroll reported, the number of employees on the payroll, and other information necessary for the administration of this article. [L 1996, c 261, pt of §2]m and detail as may be necessary to aid the commissioner in determining whether rating systems comply with the standards set forth in section 431:14-103. The rules and plans may also provide for the recording and reporting of expense experience items which are specially applicable to this State and are not susceptible of determination by a prorating of country-wide expense experience. In promulgating such rules and plans, the commissioner shall give due consideration to:

(1) The rating systems on file with the commissioner; and

(2) The rules and the form of the plans used for such rating system in other states, in order that the rules and plans may be as uniform as is practicable among the several states and this State.

No insurer shall be required to record or report its loss experience on a classification basis that is inconsistent with the rating system filed by it. The commissioner may designate one or more rating organizations or other agencies to assist the commissioner in gathering the experience and compiling the information. The compilations shall be made available, subject to reasonable rules promulgated by the commissioner, to insurers and rating organizations.

(b) Reasonable rules and plans may be promulgated by the commissioner for the interchange of data necessary for the application of rating plans.

© In order to further the uniform administration of rate regulatory laws, the commissioner and every insurer and rating organization may exchange information and experience data with insurance supervisory officials, insurers, and rating organizations in any state and may consult with them with respect to ratemaking and the application of rating systems.

(d) The commissioner may make reasonable rules and regulations necessary to effect the purposes of the rating laws. [L 1987, c 347, pt of §2]