General Laws of Massachusetts - Chapter 175E Regulation of Rates for Motor Vehicle Insurance - Section 7 Manual of classifications, rules and rates; filing; copies

Section 7. Every insurer or rating organization authorized to file on behalf of such insurer shall file with the commissioner or his designated representative every manual of its classifications, rules and rates, rating plans and modifications of any of the foregoing not less than forty-five days before the effective date thereof. Every such filing shall state the effective date thereof, and such filing shall indicate the character and extent of the coverage contemplated. The commissioner may require such insurer or rating organization to furnish the information upon which it supports such filing.

The commissioner may specify the form to be used for any filing or submission pursuant to this chapter.

The commissioner may in his discretion, and shall on the motion of the attorney general, initiate a hearing on any such filing prior to its effective date after at least ten days’ notice.

When a filing involving a rate adjustment depends upon a change in the relationship between the proposed rates and the anticipated production expense portion thereof from the relationship anticipated under any rates previously filed and currently in effect for the company or rating organization involved, the insurer or rating organization making such a filing shall simultaneously give written notice of such filing to every licensed agent of every insurer on whose behalf such filing is made. The commissioner shall call a hearing on any such filing prior to its effective date after at least ten days notice upon timely written request by any agent or broker of the company or companies to which such filing is applicable or any association representing insurance agents or brokers, if such request is in good faith and states reasonable grounds.

The commissioner shall disapprove any filing under this section to the extent that he determines that it does not comply with this chapter. The commissioner may suspend the operation of any such filing for not more than forty-five days after its effective date in order to complete the hearing and make a decision thereon.

If the commissioner suspends the operation of any such filing, he shall, by the close of the period of suspension, either approve the filing or issue an order disapproving the filing and specifying in what respects he finds that such filing fails to meet the requirements of this chapter.

Notwithstanding the provision of the foregoing paragraph, any insurer may put any filing which has been so suspended but not disapproved by the commissioner into effect on the effective date stated therein upon furnishing the commissioner with a written agreement secured by a sufficient bond satisfactory to the commissioner to adjust the premiums of all of its policies affected by the filing from their respective effective dates so as to comply with the final determination of the commissioner. Any such adjustment of premiums shall include interest at the rate of eight per cent per annum.

Every insurer or rating organization authorized to file on behalf of such insurer, shall make available to the public copies of such manual at a cost not to exceed thirty per cent above the actual costs of printing said manual.

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Last modified: September 11, 2015