Rule 20:06:22:03 Rate filings.
filings. Every policy form affecting benefits which is submitted for
approval must be accompanied by a rate filing unless the form does not require
a change in the rate. Any subsequent addition to or change in rates applicable
to the policy must also be filed.
The rate filing shall include the following:
(1) An actuarial memorandum describing the basis
on which rates were determined;
(2) An indication and description of the
calculation of the anticipated loss ratio over the entire period for which
rates are computed to provide coverage;
(3) A certification by an actuary that, to the
best of the actuary's knowledge and judgment, the entire rate filing is in
compliance with the applicable laws and rules of South Dakota and that the
benefits are reasonable in relation to premiums;
(4) A rate schedule based on the rates to be used
from the effective date of the rate filing.
Source: 16 SDR
208, effective June 3, 1990; 39 SDR 219, effective June 26, 2013.
SDCL 58-17-87(5), 58-18B-18.
SDCL 58-11-76, 58-17-4.1, 58-17-4.2, 58-18B-3.1.
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