SECTION 365:15-7-16. Statistical plans

(a)   Every insurer doing business in this state shall file a statistical plan and any modifications thereto with the Oklahoma Insurance Department.

(b)   The statistical plan shall record the loss and expense experience of the insurer and shall provide all data elements necessary to support the rating systems the insurer has filed with the Oklahoma Insurance Department. The experience developed in accordance with an approved statistical plan shall be filed on a yearly basis.

(c)   An insurer may appoint a registered advisory organization as its agent to report and file its statistical plan and experience.

(d)   The Insurance Commissioner may approve an advisory organization as a statistical agent to gather, record, compile and report experience in such manner, form and detail as determined by the Insurance Commissioner to be necessary to determine whether rating systems comply with the standards of the Property and Casualty Competitive Loss Cost Rating Act.

[Source: Added at 19 Ok Reg 1299, eff 7-14-02; Amended at 22 Ok Reg 2041, eff 7-14-05; Amended at 27 Ok Reg 1542, eff 7-14-10]