Commissioner to determine whether interaction among insurers and employers is competitive.
1. The Commissioner shall determine whether the interaction among insurers and employers for the buying and selling of industrial insurance is competitive. Competition among these insurers is presumed to exist unless the Commissioner specifically finds, after a hearing and review of the structure, performance and conduct of the insurers, that there is no reasonable degree of competition among them and that the interaction is not competitive. Any finding by the Commissioner that there is no competition among the insurers and that the interaction is not competitive, expires 1 year after the date it is issued.
2. To determine whether competition exists among insurers, the Commissioner shall review existing information available to him or participate in the development of new sources of such information. He may conduct his own studies, cooperate with knowledgeable officers in other states, hire outside consultants or conduct studies in any other appropriate manner.
Last modified: February 27, 2006