OAR 836-042-0510: Rates, Rating Plans System — Prior Review

(1) An insurer or rating organization shall submit to the Director its filing of rates, rating plans and rating systems for a commercial liability insurance market specified in OAR 836-042-0512 prior to the effective date of the rates, rating plans and rating system if the average annual total limits rate level increase or decrease for such market exceeds 15 percent because of changes in any: (a) Total limits base rates; (b) Rating basis; (c) Rating plans; (d) Manual rules; (e) Territorial definitions; or (f) Combination of such rating system components, described in this section, or the compounding series of such changes applied at a date other than the anniversary rating date of a policy. (2) Nothing in this rule applies to annual rate increases or decreases from: (a) Change in hazard of the insured’s operation; (b) Change in magnitude of the exposure basis for the insured, (such as changes in payroll or sales, or other matters); or (c) Application in parameter values provided for in a rating plan approved by the Director, including those approved prior to August 24, 1988.