Rate standards

626.11 Rate standards. 626.11(1)(1) General. Rates determined under this chapter shall not be excessive, inadequate or unfairly discriminatory. 626.11(2)(2) Excessiveness. Rates determined under this chapter are not excessive merely because a reasonable margin is allowed for a profit. 626.11(3)(3) Adequacy. The commissioner shall approve a minimum adequate pure premium for each classification under which worker’s compensation insurance is written. No insurer writing any insurance specified under s. 626.03 may use a pure premium less than that approved by the commissioner.