31A-19a-408. Procedures for workers' compensation tiered rate filings.
(1) Notwithstanding Sectionand subject to the other provisions of this section, a workers' compensation insurer may file with the commissioner a rate filing for workers' compensation insurance that provides for a plan with more than one rate tier for a single insurer or an insurer group with common ownership if the filing shows that: 31A-19a-214 each tier is established on underwriting rules that are based on criteria that would lead to a logical distinguishing of potential risk; and supporting actuarial analysis or other information that shows a clear distinction between the following for each tier: expected losses and expenses; and actual losses and expenses.
(2) A workers' compensation insurer shall file with the commissioner an update of the actuarial analysis or other information required under Subsectionat least every three years. (1)(b)
(3) A workers' compensation insurer may apply underwriting expertise and judgment in the tier placement process, except that underwriting expertise and judgment shall: be applied in a prudent manner; and when applied, be fair, reasonable, and fully documented.