SECTION 365:10-5-65. Presumptively acceptable relationship of credit accident and health benefits to premiums

(a)   Purpose. The purpose of this Part is to establish a presumptively reasonable rate schedule for credit accident and health insurance.

(b)   Presumptively reasonable accident and health rates. The Commissioner of Insurance has determined that the benefits of an accident and health insurance form are reasonable in relation to the premium charged, if the premium rate schedule for such accident and health benefits, as filed, does not exceed an amount equal, or mathematically equivalent, to the rates shown in Appendix E.

(c)   Joint credit accident and health insurance. Where, with respect to a single indebtedness, coverage is provided on two (2) lives, maximum presumptive credit accident and health insurance premium rates shall not exceed an amount equal, or mathematically equivalent, to One Hundred and Eighty-Five Percent (185%) of the applicable maximum rates for single accident and health insurance as set forth in Appendix E.

[Source: Amended at 13 Ok Reg 2669, eff 7-1-96; Amended at 14 Ok Reg 2650, eff 7-1-97]