625.12 Rating methods. In determining whether rates comply with the standards under s. 625.11, the following criteria shall be applied: (1) BASIC FACTORS IN RATES. Due consideration shall be given to all of the following that apply: (a) Past and prospective loss and expense experience within and outside of this state. (b) Catastrophe hazards and contingencies. (c) Trends within and outside of this state. (d) Loadings for leveling premium rates over time or for dividends or savings to be allowed or returned by insurers to their policyholders, members or subscribers. (e) Subject to s. 632.365, all other relevant factors, including the judgment of technical personnel. (2) CLASSIFICATION. Except as provided in s. 632.729, risks may be classified in any reasonable way for the establishment of rates and minimum premiums, except that no classifications may be based on race, color, creed or national origin, and classifications in automobile insurance may not be based on physical condition or developmental disability as defined in s. 51.01 (5). Subject to ss. 632.365 and 632.729, rates thus produced may be modified for individual risks in accordance with rating plans or schedules that establish reasonable standards for measuring probable variations in hazards, expenses, or both. Rates may also be modified for individual risks under s. 625.13 (2). (3) EXPENSES. The expense provisions included in the rates to be used by an insurer may reflect the operating methods of the insurer and, so far as it is credible, its own expense experience. (4) PROFITS. The rates may contain an allowance permitting a profit that is not unreasonable in relation to the riskiness of the class of business. History: 1975 c. 275; 1977 c. 418 s. 929 (55); 1979 c. 93; 1991 a. 279; 2019 a. 185. Cross-reference: See also s. Ins 6.54, Wis. adm. code.
625.13
Filing of rates and consent to rate. (1) FILING PROCEDURE. Except as provided in sub. (2), every authorized insurer and every rate service organization licensed under s. 625.31 which has been designated by any insurer for the filing of rates under s. 625.15 (2) shall file with the commissioner all rates and supplementary rate information and all changes and amendments thereof made by it for use in this state within 30 days after they become effective. (2) CONSENT TO RATE. Upon written application of the insured, stating the insured’s reasons therefor, filed with and not disapproved by the commissioner within 10 days after filing, a rate in excess of that provided by a filing otherwise applicable may be applied to any specific risk. The rate may be disapproved without a hearing, subject to s. 601.62 (3). If disapproved, the rate otherwise applicable applies from the effective date of the policy, but the insurer may cancel the policy proportionally on 10 days’ notice to the policyholder. If the insurer does not cancel the