Section 26-A5302. FILING REQUIREMENTS AND PUBLIC NOTIFICATION

5302.1All companies licensed to write medical malpractice liability insurance in the District of Columbia are subject to the provisions of this chapter.  Every company shall file with the Commissioner of the Department of Insurance, Securities, and Banking (“Department”), either directly or through a licensed rating organization of which it is a member or subscriber, all rates and rating plans, rules, and classifications which it uses or proposes to use in the District (“rate filings”).

5302.2All rate filings are required to be submitted on-line via the National Association of Insurance Commissioner’s System for Electronic Rate and Form Filing (“SERFF”).  All such information requested as a part of a SERFF filing must be submitted in order for the Department to deem the rate filing complete and filed.

5302.3Rate filings must be submitted at least annually.  If no change is anticipated, the company should indicate that the existing approved rate filing will continue in effect.

5302.4Once a rate filing is deem3ed filed, the Commissioner shall provide the public notice of the rate filing by either posting the rate filing on the Department’s website or by using any other means reasonably designed to provide meaningful and timely notice.  The published rate filings will be identified and marked as being filed with the Department.

5302.5Filed rate filings shall be deemed approved 60 days after the Commissioner has provided public notice of the filings, as provided in subsection 5302.4, unless the proposed rate change increase exceeds ten percent (10%).  If the proposed rate increase exceeds ten percent (10%), then the Commissioner shall conduct a hearing on the proposed change and shall issue an order approving, denying or modifying the proposed rate change within 90 days after public notice of the proposed change.

authority

The Commissioner of the Department of Insurance, Securities, and Banking, pursuant to the authority set forth in section 101(b) of the Medical Malpractice Amendment Act of 2006, effective March 14, 2007 (D.C. Law 16-23; D.C. Official Code §§ 31-2703(f-1)(1(B) and (f-1)(3)).

source

Notice of Final Rulemaking published at 55 DCR 12490 (December 12, 2008).