Washington SB5141 mandates experience-rated group disability income insurers to detail all rating factors and credibility formulas in their filings.

Washington SB5141 requires experience-rated group disability income insurers to include all applicable rating factors and credibility formulas in their rate manual filings with the insurance commissioner. These filings must be comprehensive enough to confirm the credibility of a group and allow the commissioner to replicate the premium rates using the group's experience and demographics. This ensures transparency and accuracy in the rating process for group disability income insurance.

Washington SB5141 mandates experience-rated group disability income insurers to detail all rating factors and credibility formulas in their filings.

Washington SB5141 requires experience-rated group disability income insurers to include all applicable rating factors and credibility formulas in their rate manual filings with the insurance commissioner. These filings must be comprehensive enough to confirm the credibility of a group and allow the commissioner to replicate the premium rates using the group's experience and demographics. This ensures transparency and accuracy in the rating process for group disability income insurance.