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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>62843</law_id><section_number>38.2-2012</section_number><catch_line>Collection of experience data; uniformity; compilations available to insurers and rate service organizations</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><structure><unit label="title" level="1" order_by="1" identifier="38.2">Insurance</unit><unit label="chapter" level="2" order_by="1" identifier="20">Regulation of Rates for Certain Types of Insurance</unit><unit label="article" level="3" order_by="1" identifier="2">Rate Filings and Making of Rates</unit></structure><text>
						<section id="A"><p><span class="prefix-number">A.</span> The <span class="dictionary">Commission</span> may promulgate reasonable rules and statistical plans for each of the rating systems on file with it, which may be modified from time to time. These rules and plans shall be used by each <span class="dictionary">insurer</span> in the recording and reporting of its loss and countrywide expense experience, so that the experience of all <span class="dictionary">insurers</span> may be made available, at least annually, in the form and detail as may be necessary to aid the <span class="dictionary">Commission</span> in determining whether rating systems comply with the standards set forth in subsection A of &#xA7; <a class="law" title="Provisions governing making of rates" href="/38.2-2005/">38.2-2005</a>. The rules and plans may also provide for the recording and reporting of expense experience items that are specially applicable to this Commonwealth and cannot be determined by prorating the countrywide expense experience. <a id="paragraph-229084" class="section-permalink" href="https://vacode.org/38.2-2012/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> In promulgating the rules and plans, the <span class="dictionary">Commission</span> shall give due consideration to (i) the rating systems on file with it and (ii) the rules and the form of the plans used for rating systems in other <span class="dictionary">states</span> so that the rules and plans may be as uniform as practicable among the several <span class="dictionary">states</span>. No <span class="dictionary">insurer</span> shall be required to record or report its loss experience on a classification basis that is inconsistent with the rating system filed by it or on its behalf. <a id="paragraph-229085" class="section-permalink" href="https://vacode.org/38.2-2012/#B"><i class="fa fa-link"/></a></p></section>
						<section id="C"><p><span class="prefix-number">C.</span> The <span class="dictionary">Commission</span> may designate one or more <span class="dictionary">rate service organizations</span> or other agencies to assist it in gathering the experience data and making compilations of it. The compilations shall be made available, subject to reasonable rules promulgated by the <span class="dictionary">Commission</span>, to <span class="dictionary">insurers</span> and <span class="dictionary">rate service organizations</span>. <a id="paragraph-229086" class="section-permalink" href="https://vacode.org/38.2-2012/#C"><i class="fa fa-link"/></a></p></section></text><history>Code 1950, &#xA7;&#xA7; 38-253.36, 38-253.82; 1952, c. 317, &#xA7; 38.1-261; 1986, c. 562.</history><metadata></metadata></law>
