Mississippi § 83-2-1 - Applicability of chapter and types of insurance excepted; definitions.

§ 83-2-1. Applicability of chapter and types of insurance excepted; definitions.

This chapter applies to all forms of property and casualty insurance on risks or operations in this state by any insurer authorized to do business in this state, except: Accident and health; Ocean marine insurance; Reinsurance; Aircraft liability and aircraft hull insurance; Title insurance; Credit accident and health insurance. As used in this chapter: “Advisory organization” means any person or organization, other than a rate service organization, which assists insurers as authorized by § 83-2-9(3). “Joint underwriting” means a voluntary arrangement established on an ad hoc basis to provide insurance coverage for a risk pursuant to which two (2) or more insurers separately contract with the insured at a price and under policy terms agreed upon between the insurers. “Pool” means a voluntary arrangement other than a residual market mechanism, established on an ongoing basis, pursuant to which two (2) or more insurers participate in the sharing of risks on a predetermined basis. The pool may operate through an association, syndicate or other pooling agreement. “Rate service organization” means any person or organization which assists insurers in ratemaking or filing as authorized by § 83-2-9. The terms “rate service organization” and “advisory organization” do not include joint underwriting organizations, actuarial, legal or other consultants, a single insurer, any employees of an insurer, or insurers under common control or management or their employees or managers. “Residual market mechanism” means an arrangement, either voluntary or mandated by law, involving participation by insurers in the equitable apportionment among them of insurance which may be afforded applicants who are unable to obtain insurance through ordinary methods. “Supplementary rate information” includes any manual or plan of rates, classification, rating schedule, minimum premium, policy fee, rating rule, and any other similar information needed to determine the applicable rate in effect or to be in effect. “Supporting information” means (i) the experience and judgment of the filer and the experience or data of other insurers or organizations relied upon by the filer, (ii) the interpretation of any statistical data relied upon by the filer, (iii) a description of methods used in making the rates, and (iv) other similar information relied upon by the filer.