58-17-4.2 Premium rates required to be reasonable--Rules to establish minimum standards promulgated ...
Premium rates required to be reasonable--Rules to establish minimum standards
promulgated by director.
Premium rates charged for any individual accident and health insurance
policy pursuant to this chapter shall be reasonable in relation to the benefits available under the
policy. The director shall promulgate rules pursuant to chapter 1-26 to establish minimum standards
in accordance with accepted actuarial principles and practices, for loss ratios of individual accident
and health insurance policies on the basis of incurred claims experience and earned premiums.
Source: SL 1988, ch 399, § 2.