Ark. Code § 23-79-110. Forms and premium rates–Grounds for disapproval: Insurance Policies Generally — General Provisions – Arkansas
Status: EnactedYear Enacted: 1959
Year Amended: 2015
File: Download
The commissioner shall disapprove a premium rate filed with an individual accident and health contract if the commissioner finds that the rate is not actuarially sound, is excessive, is inadequate, or is unfairly discriminatory.
(2) A rate is actuarially sound if it is:
(A) Supported by an actuarial analysis made by a member of the American Academy of Actuaries; and
(B) Based on generally accepted actuarial principles and methodologies that show the rate to be reasonable.
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