Advisory organization not to file rates on behalf of insurer, exception
An advisory organization is a group that helps insurance companies with rate information. This law says that such a group cannot make recommendations about rates that include business expenses (other than costs for handling claims) or profit. The group also cannot submit rate paperwork to the government on behalf of an insurance company, unless another specific law allows it.
287.970. not to file rates on behalf of , . — In addition to other prohibitions contained in sections 287.930 to 287.975, except as specifically permitted under section 287.972, the advisory organization shall not:
(1) Compile or recommendations relating to rates that include expenses, other than , or profit; or
(2) File rates, or on behalf of an insurer.
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Source & history notes
(L. 1993 S.B. 251 § 33) Effective 1-01-94
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