Rate standards; excessive, inadequate, or unfairly discriminatory

(215 ILCS 5/1803)     (Text of Section from P.A. 104-752)     Sec. 1803. Rate standards; excessive, inadequate, or unfairly discriminatory.     (a) Rates shall not be excessive, inadequate, or unfairly discriminatory.     (b) A rate is inadequate if it endangers the solvency of the insurer.     (c) A rate is unfairly discriminatory if, after allowing for practical limitations, the price differentials fail to reflect the difference in expected losses and expenses. A rate is not unfairly discriminatory if different rates result for policyholders with similar loss exposures but different expenses, or similar expenses but different loss exposures, so long as the rate reflects the differences with reasonable accuracy.     (d) A rate is reasonable and not excessive, inadequate, or unfairly discriminatory if it is an actuarially sound estimate of the expected value of all future costs associated with an individual risk transfer. (Source: P.A. 104-752, eff. 7-1-27.)       (Text of Section from P.A. 104-753)     Sec. 1803. Rate standards; excessive, inadequate, or unfairly discriminatory.     (a) Rates shall not be excessive, inadequate, or unfairly discriminatory.     (b) A rate is inadequate if it endangers the solvency of the insurer.     (c) A rate is unfairly discriminatory if, after allowing for practical limitations, the price differentials fail to reflect the difference in expected losses and expenses. A rate is not unfairly discriminatory if different rates result for policyholders with similar loss exposures but different expenses, or similar expenses but different loss exposures, so long as the rate reflects the differences with reasonable accuracy.     (d) A rate is reasonable and not excessive, inadequate, or unfairly discriminatory if it is an actuarially sound estimate of the expected value of all future costs associated with an individual risk transfer. (Source: P.A. 104-753, eff. 7-1-27.)