1.  Referring to the RBC ratio  (page 4, lines 7 - 11 on Engrossed Bill).  Section 26.1-17-33.1 defines BC/BS only and therefore he points out that if this had been in law from 2001 to 2007 all of those rate increases would have been approved.  This would subject our ND consumers to higher premium rates.

2. The shorter review time of 45 instead of 60 days (page 5, lines 4 - 7).  The Commissioner points out that with present staff this is not possible and therefore reviews will not be as thorough as they should be, resulting in more denials and legal proceedings.  Rate filings for other lines of insurance will also be delayed in an attempt to comply with these shorter filing periods.

3. Limiting rate analysis, (page 1, lines 13-21) only to the use of actuarial data does not permit the use of other relevant factors such as past rate increases, the impact on policy holders and affordability.

4. The decision of a hearing officer (page 6, lines 3-10) to be final in stead of a recommendation, takes away this rate making authority from the Commissioner, this authority has never been taken away from any other agency.

5. Premiums deemed inadequate (page 4, lines 22-25) if loss ratios exceed 90% for group and 85% for individual contracts again reduces this only to the use of actuarial data.

6. Deeming that rates (page 5, lines 4-15) go into effect if the review time period expires without a written response from the Commissioner and remain in effect until the next rate filing is submitted will result in higher than necessary premiums in effect for a longer period of time.

Click Here for additional information from ND Insurance Department