Section 26-A2601. EXCEPTIONAL INCREASES

Latest version.

2601.1"Exceptional increase" - only those increases filed by an insurer as exceptional for which the Commissioner determines the need for the premium rate increase is justified for the following reasons:

(a)Due to changes in laws or regulations applicable to long-term care coverage in the District of Columbia; or

(b)Due to increased and unexpected utilization that affects the majority of insurers of similar products.

2601.2Except as provided in section 2617, exceptional increases are subject to the same requirements as other premium rate schedule increases.

2601.3The Commissioner may request a review by an independent actuary or a professional actuarial body of the basis for a request that an increase be considered an exceptional increase.

2601.4The Commissioner, in determining that the necessary basis for an exceptional increase exists, shall also determine any potential offsets to higher claims costs.

source

Final Rulemaking published at 52 DCR 10902 (December 16, 2005).

                    
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