<?xml version='1.0' encoding='utf-8'?>
<chapter num="21" heading="Payment of Actuarial Review of Rate Filings" title_num="31" subtitle_num="04">
  <regulation prefix="Regulation" num=".01" heading="Scope.">
    <paragraph num="A.">
      <text>This chapter applies to the examination of rate filings made pursuant to:</text>
      <paragraph num="(1)">
        <text>Health-General Article, §19-713, Annotated Code of Maryland;</text>
      </paragraph>
      <paragraph num="(2)">
        <text>Insurance Article, Title 11, Subtitles 2 and 3, and §§12-205 and 14-126(a)(2), Annotated Code of Maryland; and</text>
      </paragraph>
      <paragraph num="(3)">
        <text>COMAR 31.10.01.02A.</text>
      </paragraph>
    </paragraph>
    <paragraph num="B.">
      <text>This chapter does not apply to the Maryland Automobile Insurance Fund.</text>
    </paragraph>
  </regulation>
  <regulation prefix="Regulation" num=".02" heading="Definitions.">
    <paragraph num="A.">
      <text>In this chapter, the following terms have the meanings indicated.</text>
    </paragraph>
    <paragraph num="B.">
      <text>Terms Defined.</text>
      <paragraph num="(1)">
        <text>“Actuarial consultant” means a consultant retained by the Commissioner subject to applicable procurement requirements to examine a rate filing.</text>
      </paragraph>
      <paragraph num="(2)">
        <text>“Advisory organization” has the meaning stated in Insurance Article, §11-101, Annotated Code of Maryland.</text>
      </paragraph>
      <paragraph num="(3)">
        <text>“Carrier” means an authorized insurer, nonprofit health service plan, or health maintenance organization.</text>
      </paragraph>
      <paragraph num="(4)">
        <text>“Commissioner” means the Maryland Insurance Commissioner.</text>
      </paragraph>
      <paragraph num="(5)">
        <text>“Rating organization” has the meaning stated in Insurance Article, §11-101, Annotated Code of Maryland.</text>
      </paragraph>
    </paragraph>
  </regulation>
  <regulation prefix="Regulation" num=".03" heading="Examination of Rate Filings by an Actuarial Consultant.">
    <paragraph num="A.">
      <text>Whenever the Commissioner considers it advisable, the Commissioner may retain an actuarial consultant to examine a rate filing submitted by an advisory organization, carrier, or rating organization.</text>
    </paragraph>
    <paragraph num="B.">
      <text>If the Commissioner retains an actuarial consultant to examine a rate filing submitted by an advisory organization, carrier, or rating organization the Commissioner shall notify the advisory organization, carrier, or rating organization that the Commissioner has retained an actuarial consultant to examine the rate filing.</text>
    </paragraph>
    <paragraph num="C.">
      <text>The Commissioner or the actuarial consultant shall make a complete report of the examination in accordance with the provisions of Insurance Article, §2-209, Annotated Code of Maryland.</text>
    </paragraph>
    <paragraph num="D.">
      <text>The advisory organization, carrier, or rating organization shall pay the expenses for the actuarial consultant’s examination of a rate filing in accordance with the provisions of Insurance Article, §2-208, Annotated Code of Maryland.</text>
    </paragraph>
  </regulation>
  <annotations>
    <annotation type="Authority">Insurance Article, §§2-108, 2-205, 2-208, 11-207(a)(2), 12-205, 14-126(a)(2), and 15-605(c); Health-General Article, §19-713; Annotated Code of Maryland</annotation>
    <annotation type="History" subtype="Administrative History">Effective date: May 16, 2011 (38:10 Md. R. 618)</annotation>
  </annotations>
</chapter>