Risks grouped by classification for rate - making--Modification of classification rates

Risks may be grouped by classifications for the establishment of rates and minimum premiums. Classification rates may be modified to produce rates for individual risks in accordance with rating plans which establish standards for measuring variations in hazards or expense provisions, or both. Such standards may measure any differences among risks that can be demonstrated to have a probable effect upon losses or expenses. Source: SL 1966, ch 111 , ch 15, § 3 (1) (d). 58-24-8 . System of expense provisions used in rate - making--Reflection of operating methods. The systems of expense provisions included in the rates for use by any insurer or group of insurers may differ from those of other insurers or group of insurers to reflect the requirements of the operating methods of any such insurer or group of insurers with respect to any kind of insurance, or with respect to any subdivision or combination thereof for which subdivision or combination separate expense provisions are applicable. Source: SL 1966, ch 111 , ch 15, § 3 (1) (c).