Section 79.05 - Rate Filings(1)Time for Rate Filings. (a)Voluntary Market Rate Filings. Rate Filings for Rates to be used in the Voluntary Market shall be filed in paper and in electronic form with the Commissioner not less than 45 days prior to the proposed effective date. In addition, when a Rate Filing involving a rate adjustment depends upon a change in the relationship between the proposed Rates and the anticipated production expense portion thereof from the relationship anticipated under any Rates previously filed and currently in effect for the Insurer or Rating Organization involved, the Insurer or Rating Organization making such a Rate Filing shall simultaneously give written notice of such filing to every licensed producer of every Insurer on whose behalf such filing is made.(b)Residual Market Rate Filings. The Rate Filings for Rates to be used in the Residual Market shall be filed in paper and electronic form with the Commissioner not less than 15 days prior to the proposed effective date.(2)Time for Advisory Filings. A Rating Organization may make an Advisory Filing at any time. Such Filings shall be submitted in paper and electronic form.(3)Filings. One paper copy of any Rate Filing or Advisory Filing made pursuant to 211 CMR 79.05(1) or (2) shall be submitted to the Division; provided, however, that the Division may request additional paper copies that shall be supplied by the Filer at the Filer's expense. The Filer shall submit simultaneously one copy of the Rate Filing or Advisory Filing to the Attorney General, unless the Commissioner directs otherwise. Electronic filings made pursuant to 211 CMR 79.05(1) and (2) shall be in a form satisfactory to the Commissioner.(4)Content. Rate Filings and Advisory Filings, and Supporting Information as applicable, shall utilize the forms and checklists approved by the Commissioner. Every Rate Filing shall state the proposed effective date of the Rate and shall indicate the scope and extent of the coverage contemplated. The filing shall contain, or incorporate by reference if previously filed with the Division, the following information and its data source in the following order: (a) Summary of Rate level changes and other matters;(b) Rate level calculations for each coverage;(c) Premiums and exposures;(d) Adjustments to Premiums and exposures;(e) Accident year reported and paid losses and claims;(i) Other adjustments to losses;(j) Claim adjustment expenses;(n) Underwriting profit, including due consideration of investment income;(o) Classification Plans;(p) Territorial and operator rate class relativities;(q) Increased limits factors;(r) Deductible and miscellaneous Rating Factors;(t) Final base Rates and Rating Factors; and(u) Any other Supporting Information.(5)Copy Available for Inspection. A copy of each Rate Filing or Advisory Filing shall be available for public inspection during normal business hours at the Division.(6)Requests for Copies of Rate Manuals. Every Insurer, Rating Organization filing for an Insurer, or CAR shall make available to the public copies of its Rate Manual at a cost not to exceed 30% above the actual cost of printing said manual.(7)Review Period.(a)Voluntary Market Rate Filings. As provided in M.G.L. c. 175E, § 7, the Commissioner shall have not less than 45 days to review each Voluntary Market Rate Filing before it becomes effective. If a hearing on the Rate Filing is initiated prior to the effective date, this period may be extended by the Commissioner for an additional period not to exceed 45 days in order to complete the hearing and make a decision thereon. If the Commissioner suspends the proposed effective date of any such Filing, the Commissioner shall, by the close of the period of suspension, either approve the filing or issue an order disapproving the filing and specifying the grounds for disapproval.(b)Residual Market Rate Filings. As provided in M.G.L. c. 175A, § 6, the Commissioner shall have not less than 15 days to review each Residual Market Rate Filing before it becomes effective; provided, however, the Commissioner may by order suspend the effective date for not more than 30 additional days in any case where the Commissioner determines that delay is necessary to properly examine the Filing and Supporting Information or supplemental information, or to permit a hearing thereon. If the Commissioner suspends the proposed effective date of any such Filing, the Commissioner shall, by the close of the period of suspension, either approve the filing or issue an order disapproving the filing and specifying the grounds for disapproval.(c)Incomplete or Inadequate Filings. When a Rate Filing is incomplete or requires additional information for the Division to review the filing, the Division may return the Rate Filing to the Filer with questions or comments regarding the missing or incomplete information. The Commissioner may toll the proposed effective date of any Rate Filing that is materially incomplete or inadequate until such time that the Rate Filing complies with 211 CMR 79.05 upon notice to the Filer. Where this occurs, the new effective date shall be calculated by extending the initial proposed effective date by the number of days in the toll period, unless the Filer provides a later date. Until any missing or requested information is provided, the Rate Filing neither shall be deemed complete nor filed, nor available for use by the Insurer. If the requested information is not provided within a reasonable time period, the Rate Filing may be returned as not filed and not available for use.Amended by Mass Register Issue 1355, eff. 12/29/2017.Amended by Mass Register Issue 1365, eff. 12/29/2017.