1861.05. Approval of Insurance Rates. (a) No rate shall be
approved or remain in effect which is excessive, inadequate, unfairly discriminatory or otherwise in violation of this chapter.
What this means to me is that people with a history of continuous coverage shall not be overcharged and that people without a history of continuous coverage shall not be undercharged. Neither class of risk should subsidize nor be subsidized by the other.
1861.05. Approval of Insurance Rates. (a) No rate shall be
approved or remain in effect which is excessive, inadequate, unfairly discriminatory or otherwise in violation of this chapter.
What this means to me is that people with a history of continuous coverage shall not be overcharged and that people without a history of continuous coverage shall not be undercharged. Neither class of risk should subsidize nor be subsidized by the other.
This code has to be CA. NV. code might say ” at all times it rates should be 30 to 35% higher then CA. with the same demographics.
Did the Alliance of Agents and Brokers change their name back to the American Agents Alliance or is this a new group?