Colorado Credit Insurance Rate Filing Checklist by yup48806

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									                                     STATE OF COLORADO

        COMPANY CHECKLIST FOR CREDIT INSURANCE RATE FILINGS
                          REQUIRED ITEMS FOR A COMPLETE FILING

     Required                              Information                                 Statutory/Regulation/
                                                                                         Information Cite
Filing Transmittal   Submit one for each company and for each type of            Colorado Bulletin 01-04
Form                 filing. A form filing cannot be combined with a rate
                     filing; they must be separate.

Cover Letter            Brief summary of the rate filing                         Division Policy
                        Helps identify what companies and lines of
                        insurance are being filed
                        One copy for each company

Form HR-1               Must accompany all submissions                           Colorado Bulletin 01-04
                        Effective dates must not be retroactive. If
                        resubmitting, filing and effective date must be
                        current.
                            Colorado Bulletin 01-04 has specific
                            instructions for Credit entities

Actuarial                All credit rate filings must credibly demonstrate       §10-10-109(2), C.R.S.
Memorandum               that a proposed rate will produce a loss ratio of at    Colorado Regulation 4-9-2(12)(B)
                         least 40%.
                                                                                 Colorado Regulation 4-9-2
                         Experience of earned premiums, incurred losses           (12)(D)(1)
                         and calculated loss ratios for the prior three years,
                         or all available experience, if less than three (3)
                         years. Rates and rating data must be based on
                         Colorado data to the extent that it is credible.
                                                                                 Colorado Regulation 4-9-2
                         Target or expected loss ratio                            (12)(D)(2)
                                                                                 Colorado Regulation 4-9-2
                         Quantification of any benefit changes                    (12)(D)(3)
                                                                                 Colorado Regulation 4-9-2
                         Rate development                                         (12)(D)(4)
                                                                                 Colorado Regulation 4-9-2
                         Analysis of credibility, and use of collateral data      (12)(D)(5)
                         such as company experience in other states for
                         similar policies, industry experience, mortality
                         tables or morbidity tables
                                                                                 Colorado Regulation 4-9-2
                         Demonstrate compliance with loss ratio standard          (12)(D)(6)

                                                                                 Colorado Regulation 4-9-2
                         Certification by a qualified actuary                     (12)(D)(6)

Duplicate Copy and   To be stamped and returned for the company's records        Colorado Bulletin 01-04
Postage-paid         to document filing (The copy should be separate from
Return Envelope      the original.)

                     PLEASE DO NOT SEND THIS CHECKLIST IN WITH THE FILING


    REVISED February 2004                                                                            1

								
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