HERBERT R. O'CONOR, GOVERNOR. 1389

or group with respect to any kind of insurance, or any sub-
division or combination thereof for which the Insurance Com-
missioner, hereinafter referred to as Commissioner, approves
the application of separate expense provisions.

(3) Risks may be grouped by classifications for the estab-
lishment of rates and minimum premiums. Classification rates
may be modified to produce rates for individual risks in ac-
cordance with rating plans which establish standards for
measuring variations in hazards or expense provisions, or both.

(4) Rates shall be reasonable, adequate and not unfairly
discrimatory.

3. (Filing of Rates and Rating Information; Approval. )

(a) Every insurer shall file with the Commissioner every
manual of classifications, rules and rates, every rating plan
and every modification of any of the foregoing which it pro-
poses to use. Every such filing shall indicate the character
and extent of the coverage contemplated and shall be accom-
panied by the information upon which the insurer supports
the filing.

(b) An insurer may satisfy its obligation to make such
filings by becoming a member of, or a subscriber to, a licensed
rating organization which makes such filings and by author-
izing the Commissioner to accept such filings on its behalf.

(c) Any filing made pursuant to this section shall be ap-
proved by the Commissioner unless he finds that such filing
does not meet the requirements of this Act. As soon as reason-
ably possible after the filing has been made the Commissioner
shall in writing approve or disapprove the same; provided, that
any filing shall be deemed approved unless disapproved within
thirty days.

(d) Any such filing with respect to a fidelity, surety or
guaranty bond shall be deemed approved from the date of
filing to the date of such formal approval or disapproval.

(e) In the event that the Commissioner disapproves a filing
he shall specify in what respect he finds that such filing does
not meet the requirements of this Act.

(f) If at any time the Commissioner finds that a filing so
approved no longer meets the requirements of this Act, he
may, after a hearing held on not less than twenty days' written
notice to every insurer and rating organization who or which
made such filing, specifying the matters to be considered at
such hearing, issue an order withdrawing his approval thereof.
Said order shall specify in what respects the Commissioner
finds that such filing no longer meets the requirements of this
Act and shall be effective not less than thirty days after its
issuance. Copies of such order shall be sent to every such
insurer and rating organization.