SECTION 365:15-7-3. Property and casualty rate, loss cost and manual rule filings

(a)   Purpose. The purpose of this section is to specify the procedures for submitting rate, loss cost and manual rule filings to the Insurance Commissioner as required by 36 O.S. § 981 et seq.

(b)   Procedures. Rate, loss cost and manual rules and revisions thereto by insurance companies and advisory organizations licensed in Oklahoma shall be submitted in compliance with this section, or shall be rejected for filing, and the entity that made such submission shall be so notified.

(1)   Filing requirements. The Insurance Code, 36 O.S. § 981 et seq., requires that each insurer shall make its rate, loss cost and manual rule filings by line of business directly with the Insurance Commissioner. Companies may satisfy their obligation to make such filings, where authorized by law, by becoming a member or subscriber to an Oklahoma licensed advisory organization which makes such filings.

(2)   Filing fees.

(A)   Rate, loss cost and manual rule filings shall be accompanied by the proper fees as specified in the Insurance Code. Fees shall not be paid in cash.

(B)   Filings for groups of insurers shall be accompanied by the specified fee for each transaction regardless of the number of members or subscribers.

(C)   Filings by advisory organizations shall be accompanied by the specified fee for each transaction regardless of the number of members or subscribers.

(3)   Address requirements. All filings shall be addressed as follows: Oklahoma Insurance Commissioner, 3625 NW 56^th Street, Suite 100, Oklahoma City, Oklahoma 73112.

(4)   Number of copies. All filings except those exempted shall be submitted through the System for Electronic Rate and Form Filing (SERFF) pursuant to the SERFF General Instructions. All filings including the cover letter, all exhibits, rate sheets and additional information submitted to the Insurance Commissioner shall be typewritten or printed and submitted with one (1) legible copy of all material. Companies that file as a group listing all companies on the transmittal letter may accomplish this requirement by submitting one (1) typewritten or printed legible copy of all material.

(5)   Effective date of filings. The effective date of rate, loss cost and manual rule filings and the dates of required action by the Insurance Commissioner are governed by the applicable provisions of the Insurance Code.

(6)   Notice of Insurance Commissioner action. The Insurance Commissioner shall indicate action taken through the System for Electronic Rate and Form Filing (SERFF). Nothing in this section shall preclude the Insurance Commissioner from the use of other forms of communication to secure information from the filing entity.

(7)   Life, accident and health insurance. This section does not apply to life, accident and health insurance. Life, accident and health insurance filings shall be made in accordance with the applicable provisions of the Insurance Code and Rules of the Insurance Commissioner.

(8)   Postage requirements. No submissions shall be accepted that arrive at the offices with postage due. No submissions will be returned unless the necessary postage accompanies the same.

(9)   Withdrawal of pending filings. Pending filings may be withdrawn by the filing entity upon notice to the Insurance Commissioner prior to the approval or disapproval thereof. The notice shall include the reason for the withdrawal.

(10)   Filing form and content. All filings shall include the following:

(A)   The name of the filing entity and complete mailing address to which correspondence shall be sent.

(B)   A "RE" or "caption" briefly describing the content and context of the filing.

(C)   A list or index of the manual pages filed in the filing letter or attached thereto including the page numbers and edition date, if applicable.

(D)   A complete description and full explanation of the changes made by the filing including, reasoning therefore, illustrative examples, including "John Doe" specimen examples, and a comparison of currently approved and proposed materials (side by side comparison or marked copy).

(E)   A concise statement to identify the manual pages (rate and/or rule) to be replaced by the filing including the approval date in this jurisdiction and the identifying Oklahoma Insurance Department's assigned filing number of the filing containing the documents to be replaced.

(F)   Completed transmittal forms and exhibits.

(11)   Advisory organization deviations. Every member of, or subscriber to, a licensed advisory organization may adhere to any filings made on its behalf by its advisory organization, except that any such member or subscriber may deviate from such filings as authorized by this section if it has filed with the advisory organization and with the Insurance Commissioner, the deviation to be applied and information necessary to justify the deviation. If such deviation is approved, it shall remain in force until such approval is withdrawn by the insurer with approval of the Insurance Commissioner.

[Source: Added at 19 Ok Reg 1299, eff 7-14-02; Amended at 21 Ok Reg 1659, eff 7-14-04; Amended at 23 Ok Reg 2730, eff 7-14-06; Amended at 24 Ok Reg 2209, eff 7-14-07; Amended at 25 Ok Reg 1656, eff 7-14-08; Amended at 27 Ok Reg 1542, eff 7-14-10; Amended at 29 Ok Reg 1285, eff 7-14-12; Amended at 32 Ok Reg 1942, eff 9-15-15]