Oklahoma § 36-986 - Rate administration

§ 36-986. Rate administration

Rate Administration.

A. In only those markets found to be noncompetitive pursuant to

Section 984 of this title, insurers and advisory organizations shall

file with the Commissioner and the Commissioner shall review

reasonable rules and plans for recording and reporting their rates,

loss and expense experience and other information determined by the

Commissioner to be necessary or appropriate for the administration

of the Property and Casualty Competitive Loss Cost Rating Act. The

Commissioner may designate one or more advisory organizations or

other agencies to assist in gathering such experience and making

compilation thereof.

B. Reasonable rules and plans may be promulgated by the

Commissioner for the exchange of data necessary for the development

and application of rating plans.

C. In order to further uniform administration of rate

regulatory laws, the Commissioner and every insurer and advisory

organization may exchange information and experience data with

insurance supervisory officials, insurers and advisory organizations

in other states and may consult with them with respect to the

application of rating systems.

D. Cooperation among advisory organizations or among advisory

organizations and insurers in ratemaking or in other matters within

the scope of the Property and Casualty Competitive Loss Cost Rating

Act is authorized. The Commissioner may review such cooperative

activities and practices, and if, after a hearing, any such activity

or practice is found to violate the provisions of the Property and

Casualty Competitive Loss Cost Rating Act, a written order may be

issued specifying that such activity or practice violates the

provisions of this act and requiring the discontinuance of such

activity.

Added by Laws 1999, c. 83, § 6, eff. Nov. 1, 1999. Amended by Laws

2004, c. 519, § 18, eff. Nov. 1, 2004.